BTC Bull Attempts to Break $50,000 - A Psychological Hurdle as well as The Next

[NeuroticFish]

50k was broken in August.. a month known or being slow for businesses due to holidays.
What happens now is probably refueling the rocket. September starts, school and work start or get back to normal, traders and institutional investors will be again full power and I expect the price get to new heights: touching and surpassing the last ATH, then, why not, 100k and beyond.

[slaman29]

50k was broken in August.. a month known or being slow for businesses due to holidays.
What happens now is probably refueling the rocket. September starts, school and work start or get back to normal, traders and institutional investors will be again full power and I expect the price get to new heights: touching and surpassing the last ATH, then, why not, 100k and beyond.

I never really thought much about all the seasonal effects that normally affect markets. There used to be the thing about Christmas, about Chinese lunar year, even about monsoon floods in china but I never really thought they made a difference.

Or if they used to they don't seem to with every passing year. Of course if things happen as you say, you will not see me complaining at all.

[asrinur]

Bitcoin price continued to rise and managed to break through the $50,000 level. This upward trend is expected to continue and potentially touch the $100,000 level this year. Bitcoin continues to show a positive trend has passed its key psychological level, at $50,000, which marks a strong dominance of investor interest. Is it really going back in Bearish, or will it be a minor correction after crossing $50,000. All of that is a confirmation priority for us, by sticking to bitcoin's strong fundamentals over the long term.

[Reatim]

On the daily chart, Bitcoin has been trading inside a rising wedge pattern for the past few days. The bulls flipped the $49,000 level to support on Aug. 23 and pushed the price above the psychological level of $50,000. After crossing above EMA100 line, BTC found support on the MA20 ($45.9k) . The relative strength index (RSI) is near overbought levels, which could encourage profit taking around resistance. However, Upside momentum is strengthening on the  daily chart, which suggests buyers are in control. The critical zone bitcoin needs to reclaim is $55,000-$58,000.

More details:https://www.bex500.com/college/category?cid=57&aid=299

just few hours of this post mate, bitcoin did break the 50k price and stays for two days and then fell down back to 46k.

The price of bitcoin experienced a bullish trend in the last five weeks. I estimate the price of bitcoin still has room to rise again. In the near future, I think the price of bitcoin will move in the range of $51k to $64k.

of course in future but the main objective is when ? will this be coming this year or in the next 3-4 years again when halving comes in situation .

but of course 50k is what we wanted to stay in this whole year at least.

[Yaunfitda]

50k was broken in August.. a month known or being slow for businesses due to holidays.
What happens now is probably refueling the rocket. September starts, school and work start or get back to normal, traders and institutional investors will be again full power and I expect the price get to new heights: touching and surpassing the last ATH, then, why not, 100k and beyond.

I never really thought much about all the seasonal effects that normally affect markets. There used to be the thing about Christmas, about Chinese lunar year, even about monsoon floods in china but I never really thought they made a difference.

Or if they used to they don't seem to with every passing year. Of course if things happen as you say, you will not see me complaining at all.

Historically though, last quarter seems to be strong upswing in price just like last year. It might not always have some correlation, but around Christmas time or at least the month of December was a huge jump in prices. I'm not sure above other holidays though, specially the Chinese Lunar year, it's been a hit or miss lately. So I will be optimistic that come December we might see a new all time high. It might not be in the 6 digit numbers, but definitely more than the last ATH we have.

[mrjoy15]

Bitcoin price continued to rise and managed to break through the $50,000 level. This upward trend is expected to continue and potentially touch the $100,000 level this year. Bitcoin continues to show a positive trend has passed its key psychological level, at $50,000, which marks a strong dominance of investor interest. Is it really going back in Bearish, or will it be a minor correction after crossing $50,000. All of that is a confirmation priority for us, by sticking to bitcoin's strong fundamentals over the long term.

We enter into bullish zone and these dumps are the correction. Bitcoin is trading between $47K~$49K for a while. There is a heavy selling pressure, despite that $49K momentum good sign to see further move. Bitcoin market is turning into green, this weekend is going to be massive. As per market a analysis it will goes to 50k shortly.

[Dave1]

Bitcoin price continued to rise and managed to break through the $50,000 level. This upward trend is expected to continue and potentially touch the $100,000 level this year. Bitcoin continues to show a positive trend has passed its key psychological level, at $50,000, which marks a strong dominance of investor interest. Is it really going back in Bearish, or will it be a minor correction after crossing $50,000. All of that is a confirmation priority for us, by sticking to bitcoin's strong fundamentals over the long term.

We enter into bullish zone and these dumps are the correction. Bitcoin is trading between $47K~$49K for a while. There is a heavy selling pressure, despite that $49K momentum good sign to see further move. Bitcoin market is turning into green, this weekend is going to be massive. As per market a analysis it will goes to 50k shortly.

I wouldn't call this dump though, just the normal dips during weekend as trader are cashing out for their two days rest, and taking profits. We have entered bullish zone once we goes above that lowest low for this year which is about $29k. And there's no heavy pressure to sell right now as everyone is anticipating another run to $50k-60k up to September. But it won't be an easy sailing as we will encounter this minor dips along the way.

[Hippocrypto]

On the daily chart, Bitcoin has been trading inside a rising wedge pattern for the past few days. The bulls flipped the $49,000 level to support on Aug. 23 and pushed the price above the psychological level of $50,000. After crossing above EMA100 line, BTC found support on the MA20 ($45.9k) . The relative strength index (RSI) is near overbought levels, which could encourage profit taking around resistance. However, Upside momentum is strengthening on the  daily chart, which suggests buyers are in control. The critical zone bitcoin needs to reclaim is $55,000-$58,000.

More details:https://www.bex500.com/college/category?cid=57&aid=299

For me, I would love to see price surpass $50k once again and after the wave five resistance break that's the time btc stabilize within range of $50k to $60k attempts.
On this stage, momentum became stronger and we will be able to see a great pumps in the near future and have another Bitcoin ATH.

[Slow death]

well it seems to me the resistance that is at $50500 is very strong and in the 3 attempts that bitcoin made to break that resistance it was pushed down to the point of falling to the support that is at $46200, currently bitcoin is trading between the $46000 support to $49,000 resistance, in the next few days I believe we will see in which direction it will either break the resistance or break the support and fall

[hatshepsut93]

The recent chart looks to me like a smaller version of the $30k to $64k movement - first it started very fast but then slowed down and after that came a crash. I will not be surprised if a crash will come soon. Both charts mean that after a resistance was failed to be broken after a few tries and bullish momentum was lost, investors start to take profits because they don't see a potential for upside in short term.

[Twinkledoe]

The recent chart looks to me like a smaller version of the $30k to $64k movement - first it started very fast but then slowed down and after that came a crash. I will not be surprised if a crash will come soon. Both charts mean that after a resistance was failed to be broken after a few tries and bullish momentum was lost, investors start to take profits because they don't see a potential for upside in short term.

Really interesting what will happen in the next couple of weeks. Can we surpass the 50k mark and sustain that level for long? But with good news coming from countries like Cuba, in addition with El Salvador, this creates positive vibes in the market. Now, we are just waiting for other countries to follow their move. And also, for other big companies to add bitcoin in their payment method.

[cafucafucafu]

Yeah, definitely a big psychological resistance here.

I think that if we are able to break through that level then we would be in for a trend reversal and see the bulls resurge to the $60k level to test the ATH.

But if not, we're probably going to see a correction down to $35k again to test support there. Either way, I think that with the institutional presence this time round we're more likely to get a band of stability compared to the volatility that we've seen in the past.

[bitterguy28]

Yeah, definitely a big psychological resistance here.

Psychologically resistance ? nope it does really broken lol.

50k is once again going on now as the price needs to reach 50k again from 49k now.

I think that if we are able to break through that level then we would be in for a trend reversal and see the bulls resurge to the $60k level to test the ATH.

it does not happened mate, lets see since we are close back again now.

But if not, we're probably going to see a correction down to $35k again to test support there. Either way, I think that with the institutional presence this time round we're more likely to get a band of stability compared to the volatility that we've seen in the past.

nope there is no correction that falls that low, the lowest is 46,000 and now climbing back to 50,000 again.

https://coinmarketcap.com/currencies/bitcoin/


and the graph is working good now here >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

[newwest]

The first hurdle of 50k has being crossed and probably for me this was the biggest huddle as rising form 30k to 50k was never going to be an easy one. But now I am positive about the next few levels which is 60k and 70k which we may see in coming months only.

[Lucius]

Who cares about $50k at all, when it's just the starting point of a much bigger thing that will inevitably happen, maybe in the next few months, and maybe over the next year. I can only say that I agree with @NeuroticFish about the fact that summer holidays in the northern hemisphere are the reason for the slowdown in the market, and someone mentioned that 67% of the world’s wealth is actually in the northern hemisphere. I can say for myself that summer takes me a lot more in some other directions, although I try to stay up to date with everything that happens.

There is quite enough money, the demand is still there, and maybe the next big thing is BTC ETF in the US, which may positively surprise us soon.

[Poker Player]

Who cares about $50k at all, when it's just the starting point of a much bigger thing that will inevitably happen, maybe in the next few months, and maybe over the next year. I can only say that I agree with @NeuroticFish about the fact that summer holidays in the northern hemisphere are the reason for the slowdown in the market, and someone mentioned that 67% of the world’s wealth is actually in the northern hemisphere. I can say for myself that summer takes me a lot more in some other directions, although I try to stay up to date with everything that happens.

There is quite enough money, the demand is still there, and maybe the next big thing is BTC ETF in the US, which may positively surprise us soon.

Yes, it is not uncommon for the market to slow down a bit in the summer, not just the crypto market. Lately I've been looking back at 2017 and although it was a bit different (it's always different) because of the hard forks, shitcoin cash etc., the big rise came from September 15 or so. Hopefully that will be the case and the $50K will only seem like a small blip.

[electronicash]

Bitcoin ETF (Futures) might be approved, i guess this could be a  push for a higher price later.

zooming out into the bigger TF like week chart, BTC isn't overbought so it can potentially go more than $50k if there will be another big shot institution that will come. but obviously, when the candles provide a seesaw pattern, it's good to take profit because prices could stay this way for a long time because traders are once again entering an accumulation phase.

[777Jolami]

After breaking out of the $50k price range, some psychological symptoms were overpowered by the bulls with some panicky short wicks(44k-47k).  At this critical stage, I see that we need more momentum or stronger spice and that could be Uber Dovish.  The market is holding up opportunities to go up but the bottom line is needing the same effects as Elon & Tesla before it.

[Woodie]

This one has proved to be a very significant area, was looking at the charts every time it got close to $49k it was losing momentum and going back in the $48k it's more like we have institutional investors shorting the market when it gets here, and until or these are filled I see price to keep trading below this price.

Bitcoin ETF (Futures) might be approved, i guess this could be a  push for a higher price later

Such approvals usually throws market in a bull run but hope they don't keep postponing or delaying it like they usually do. But once it's approved am seeing a new ATH maybe say $70 k

[bots1]

Bitcoin has been moving in a range of highs and lows over the past few days, indicating a period of consolidation momentum. So, if Bitcoin can hold above $50k, it's a quick move through the volume gap to around $54k which is the next supply zone. The next real resistance zone for BTC is approaching $56k. I think BTC will only be maintained and could reach $56k in the next two or three weeks.