Here’s what traders expect now that Bitcoin price rallied back to $50K

[Nathrixxx]

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.
There was widespread celebration across the crypto ecosystem on Aug. 23 after the sight of Bitcoin (BTC) back above $50,000 triggered a resurgence of calls for the top cryptocurrency to reach $100,000 before the end of 2021.

Data from Cointelegraph Markets Pro and TradingView shows that the early morning bullish momentum that lifted the price of BTC to an intraday high at $50,514 began to wane as the day progressed at currently the price trades slightly above $49,0.
https://cointelegraph.com/news/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k?utm_source=thecryptoapp

Interestingly, I come across some post on having invested long time ago prior to this stage Bitcoin has become, I made a comment that it's never too late to do so even now, the more Bitcoin progresses the further some go in it, while considering the most important factor of taking the risk, the entire Bitcoin community is on a smiling face both investors and traders, but for new investors it is advisable to pause and study, as it approaches $50,000
Base on my own predictable analysis, if it reaches anything above 50, then the tendency to reach 60 to 100 within a short or long run is visible. Investing is a game of prediction, if it turn high you gain and if low you loose, but those that venture into it carefully understand the strategy behind it to increase.

[dansus021]

from my analysis bull run will happen when price above 50K yesterday btc touch 50 k and now doing small correction

[Tim-BTC]

We will be surprised to find that when the market does not need bad news, there will be no bad news in the media, and no one will create bad news. In fact, when the market continues to rise, even if there is bad news, it will be ignored intentionally or unintentionally, or simply interpreted as good news.

When will bad news follow? When retail FOMO swarmed into the market, institutions and new leeks changed hands at high positions, the market was full of weak hands at fragile high prices, and when the collapse was about to occur, the big bad news would follow one after another, like hail. The same smashed down, and the smashed retail investors fled in embarrassment.

[Fundamentals Of]

It seems $50,000 is now getting weaker. The price has fallen from it right now obviously but I think this is just a little correction after the recent rally.

If you notice, the increase in Bitcoin's price for the past days are very healthy and smooth. There is a rally followed by a tiny correction which is again followed by another rally and again a tiny correction and so on. Several green candles or long greens followed by a few red ones or short reds are a healthy sign. This is perfect. I think $60,000 is coming handy in the next days.

[amishmanish]

I wish i understood technical analysis to make sense of those charts. I never had much interest in investing, growth, compounding till I got to know about Bitcoin. Now I do understand that the markets tend to behave cyclically and if you can stay for a long enough time while managing your exposure, it can be a steady source of income and knowledge, though also of a lot of heartache at times.

I'd still take these 100K predictions with a pinch of salt. The turnaround has been amazing this time but you always hear these stories about how it'll "breakout" straight to 100K and that is what causes the retail FOMO. Most retail investors and newbies are ill-served by such predictions. IMO, traders who make such predictions are really just trying to encash their long positions. People like the OP are either naive or part of those pump and dump groups that spread rumors and then take positions.

These posts about BTC being above 50K and set for 60-100K are thus, not only unnecessary, but even malicious.

[mk4]

I'm mostly bullish, but the market sentiment being overly bullish is slightly worrying in my opinion. Especially now that a lot of people is making freakishly amounts of money flipping NFTs and by buying the "Ethereum killer" coins, I'm definitely slightly skeptical.

[pooya87]

It is funny how these useless media outlets jump from one nonsense article to another. It is not so long ago that they were publishing articles about bitcoin's demise. But now that price is going up, they are publishing new nonsense that can get most amount of traffic.

The fact is that bitcoin was never in a bear market to change directions now. There was a manipulation phase and a lot of FUD and the accumulation phase to buy bitcoin with almost 50% discount. That discount is ending now that the bull run resumes.
$100k is also the same as $5k back in 2017 where media started "predicting as top" right after price got out of $2k range simply because they were incapable of seeing the bigger picture.

[Ausgewielt]

For now I don't feel any pressure yet. Usually the pressure only come when it is almost reach the peak of bullish or bearish market. My calculation is not 100% accurate I only can calculate the range of highest or lowest price. Now the price didn't reach the point that I calculate yet. So I will just wait, but I think the price will keep rising. What I need to do is becarefull about bear trap. In my opinion strong mentality is important too. I personally don't pretend this investment as a game of predictions because everything that I need to do calculation is available. I mean it is not based on luck. I think the probability is seen clearly.

[Xinarae*]

Bitcoin prices are rising and falling at the moment but the market is bullish but it does not take long to be bearish, so traders are not able to accurately determine how much it will rise. The price of bitcoin has returned to $ 50K but is falling again this time will be the best move to hold wherever the market goes, many people have made more profit and many people are buying altcoin with bitcoin. Everyone is coming to believe that with bitcoin the price of altcoin will go up.

[Dave1]

Bitcoin's hit another round number, so that's good. I'm waiting for some fomo to set in but it didn't happen. And then we have some pullback already. But as long as the price is above the average price of $43k, I think we are still in the bullish of phase.

As for the media outlets, sure that's there job, flipping from bitcoin bears to publishing bullish sentiments and what to expect.

[Bitcoin Seller]

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.
There was widespread celebration across the crypto ecosystem on Aug. 23 after the sight of Bitcoin (BTC) back above $50,000 triggered a resurgence of calls for the top cryptocurrency to reach $100,000 before the end of 2021.

Data from Cointelegraph Markets Pro and TradingView shows that the early morning bullish momentum that lifted the price of BTC to an intraday high at $50,514 began to wane as the day progressed at currently the price trades slightly above $49,0.
https://cointelegraph.com/news/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k?utm_source=thecryptoapp

Interestingly, I come across some post on having invested long time ago prior to this stage Bitcoin has become, I made a comment that it's never too late to do so even now, the more Bitcoin progresses the further some go in it, while considering the most important factor of taking the risk, the entire Bitcoin community is on a smiling face both investors and traders, but for new investors it is advisable to pause and study, as it approaches $50,000
Base on my own predictable analysis, if it reaches anything above 50, then the tendency to reach 60 to 100 within a short or long run is visible. Investing is a game of prediction, if it turn high you gain and if low you loose, but those that venture into it carefully understand the strategy behind it to increase.

You are right that for those who are willing to wait for several years, even 60 000$ is not a limit. According to some analytics, the fundamental value of Bitcoin is 200 000$, so I am going to hold it for at least 5 or 10 years. What comes to 50 000$, this price is possible even in the nearest days. Another question is if people will sell off their Bitcoin on this level or not, but anyway, I am going to continue holding

[amishmanish]

I'm mostly bullish, but the market sentiment being overly bullish is slightly worrying in my opinion. Especially now that a lot of people is making freakishly amounts of money flipping NFTs and by buying the "Ethereum killer" coins, I'm definitely slightly skeptical.

In the defense of shitcoiners, I think those people really have a lot going for them because they are offering a solution that investors are willing to put money on. There definitely is demand for centralized blockchain contracts where the central authority is some well-known group of people or a corporation that guarantees the code. The setup is quite simple. There are investors willing to bet money on these blockchain contract providers and that is where the flippers are making insane amounts of money.

NFTs are a different story altogether. The concept of verifiable rarity having value isn't new. That is what NFTs do. A lot of those people have emerged from a bitcoin background itself. There is a lot going on there than we discuss here at the forum.

[Lucius]

People like the OP are either naive or part of those pump and dump groups that spread rumors and then take positions.
These posts about BTC being above 50K and set for 60-100K are thus, not only unnecessary, but even malicious.

You may be right, we can't know what someone's intentions are, but I don't think there are any malicious intentions in this particular case - the OP is just one in a series of those that feed on media articles, which of course always adapt to the current situation. And at the moment, it seems that after months in the zone between $30k and $40k, we are on the way to achieving a new ATH, although some bad news can take everything back.

$100k is also the same as $5k back in 2017 where media started "predicting as top" right after price got out of $2k range simply because they were incapable of seeing the bigger picture.

If people remember anything from 2017, then it’s just what happened during December. Everything that happened before that doesn't matter to most people today, because many people made the wrong moves then and don't want to remember how we went from $1000 to $20 000. Therefore, we can read the stories of people who sold their BTC in the hope that the price would collapse because the bull run was over, which was completely wrong. If ever there was a time for someone not to be a weak hand, then it is right now.

[michellee]

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.
There was widespread celebration across the crypto ecosystem on Aug. 23 after the sight of Bitcoin (BTC) back above $50,000 triggered a resurgence of calls for the top cryptocurrency to reach $100,000 before the end of 2021.

Data from Cointelegraph Markets Pro and TradingView shows that the early morning bullish momentum that lifted the price of BTC to an intraday high at $50,514 began to wane as the day progressed at currently the price trades slightly above $49,0.
https://cointelegraph.com/news/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k?utm_source=thecryptoapp

Interestingly, I come across some post on having invested long time ago prior to this stage Bitcoin has become, I made a comment that it's never too late to do so even now, the more Bitcoin progresses the further some go in it, while considering the most important factor of taking the risk, the entire Bitcoin community is on a smiling face both investors and traders, but for new investors it is advisable to pause and study, as it approaches $50,000
Base on my own predictable analysis, if it reaches anything above 50, then the tendency to reach 60 to 100 within a short or long run is visible. Investing is a game of prediction, if it turn high you gain and if low you loose, but those that venture into it carefully understand the strategy behind it to increase.

You are right that for those who are willing to wait for several years, even 60 000$ is not a limit. According to some analytics, the fundamental value of Bitcoin is 200 000$, so I am going to hold it for at least 5 or 10 years. What comes to 50 000$, this price is possible even in the nearest days. Another question is if people will sell off their Bitcoin on this level or not, but anyway, I am going to continue holding

If you want to hold for at least 5 or 10 years, you need to have patience and not panic because you will see the price will go up and down many times and that can make you confuse and unsteady holding bitcoin. When that happens, you will not think about a long-term investment but you can sell your bitcoin before the price reaches the lowest price. So I hope you can have a patient holding bitcoin and only sell when the time comes. $50,000 will come, but we need to calm down this time because the price is now getting correction for a while. And this time will be a good time to buy more bitcoin.

[bryant.coleman]

The ATH level should be the next immediate target. From what I have seen, there were no major resistance levels, from the journey from 29K to 50K. I believe that the next one is not going to appear before $62,000, which is the current ATH level. I can observe a lot of whales rushing in to purchase, in anticipation of the next major bull rally. The correction is now over and the stabilization phase is going to last for a couple of months or so. And this period will provide the last opportunity to accumulate BTC for five-digit prices.

[Kelvinid]

The ATH level should be the next immediate target. From what I have seen, there were no major resistance levels, from the journey from 29K to 50K. I believe that the next one is not going to appear before $62,000, which is the current ATH level. I can observe a lot of whales rushing in to purchase, in anticipation of the next major bull rally. The correction is now over and the stabilization phase is going to last for a couple of months or so. And this period will provide the last opportunity to accumulate BTC for five-digit prices.

And then we think that the next rally will be in the 6 digits? That seems too overhyped, I think. But what I guess base on the current sentiment, we had reached $62k and might double it next ATH will probably be more than $100k.

Well, for now, I was expected for a short rally and then it drops again before we end this year. But I'd never think that we experience a bear market again this year, only just short rollbacks. Thus, if we still have money to invest, we never have to hesitate by doing it now while we still have the chance to buy at a cheaper price, otherwise, we forever miss this opportunity.

[Jating]

The ATH level should be the next immediate target. From what I have seen, there were no major resistance levels, from the journey from 29K to 50K. I believe that the next one is not going to appear before $62,000, which is the current ATH level. I can observe a lot of whales rushing in to purchase, in anticipation of the next major bull rally. The correction is now over and the stabilization phase is going to last for a couple of months or so. And this period will provide the last opportunity to accumulate BTC for five-digit prices.

Or 6 digit prices at the end of the year.

There are several resistance though from $29k to $50k. The latest is the $48k barrier which we have just crossed after more than 3 attempts. And then $50k also seems to be a tough nut to crack as once we have reach it, the price suddenly dips.

However, I do believed that in the next coming months we might see new ATH, exceeding at least $70k and then that big 6 digits will be the next and that is the price that we all have been wanting to see because it will be historic.

[Kittygalore]

It seems that your prediction isn't right, seems to be that a lot of traders are taking their profits at this point, we might see some movement to go back up again since this has happened before if I'm right.

[pooya87]

If people remember anything from 2017, then it’s just what happened during December. Everything that happened before that doesn't matter to most people today, because many people made the wrong moves then and don't want to remember how we went from $1000 to $20 000. Therefore, we can read the stories of people who sold their BTC in the hope that the price would collapse because the bull run was over, which was completely wrong. If ever there was a time for someone not to be a weak hand, then it is right now.

I wouldn't expect those who have forgotten what happened 2 weeks ago to remember 4 years ago
It is not like this very same pattern is rare or anything, it is being repeated over and over and the weak hands react the same way by panic selling as soon as the FUD hits the fans. We had the "bitcoin can't stay above" topics lately all over the internet and yet bitcoin broke free of $30k prison... Then we went up 65% and some weak hands came back, so now they have to be stripped

[LFC_Bitcoin]

Small correction in play at the moment but it changes nothing. The next stage of the bull run will commence in its blazing glory soon.