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

[Jating]

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

Obviously, this will be a big boost on the price, but the question is regulators willing to approved this?

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.

I don't think that we are in the overbought zone, we are just above the 200 MA so that's not overbought for me. Maybe what we are seeing in a consolidation again before attempting $50k next week or at the start of September, but no doubt that we are still very much in the bullish phase.

[zanezane]

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.

I think that if bitcoin breaks the resistance at 50k and be able to stay there for awhile, 56k is going to be only easy for bitcoin to just pass through because a hard resistance will always be followed by an easy resistance based on my amateur observation.

[ene1980]

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I think that if bitcoin breaks the resistance at 50k and be able to stay there for awhile, 56k is going to be only easy for bitcoin to just pass through because a hard resistance will always be followed by an easy resistance based on my amateur observation.

I am expecting a minor correction and now the end of the month and hence expect option markets to close some contracts and it is possible that is the reason for the minor correction now and once we are able to breach the psychological barrier of $50k which i think will take sometime to breach but once we do then the market will rally and possibly touch another all time high valuation.

[InvoKing]

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.

I think also 2 - 3 weeks will be enough for Bitcoin to consolidate and pass $50k barrier for a long time and not just for days. I expect a new ATH will occur by the end of the year too.

[hello_good_sir]

I think that there is actually too much enthusiasm which is causing some attention to be drawn away from BTC into even more risky asset classes, causing prices to not be able to breach that psychological $50k barrier.

Just look at the bitcoin dominance ratio which is reaching all time low levels.

It's likely that we will be consolidating at the $40k-50k corridor for a while. Don't expect 6 figures within this runup, I'd say.

[Spack17]

In the last 24 hours, Bitcoin managed to break $48k and $49k resistance levels both. Even though it is $48.6k now, I see a potential in Bitcoin to break the $50k resistance level as soon as possible. This can still be hard but it is not impossible. And after breaking it, I'm expecting the price reach $55k and $60k gradually before the end of October.

[Porfirii]

I got here via this post.

If I'm not wrong, in the last 24 hours Bitcoin has managed to break $50k resistance before falling back to $49.4k right now. We are almost there, and I agree that breaking the resistance convincingly can lead to a FOMO.

[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.

I think that if bitcoin breaks the resistance at 50k and be able to stay there for awhile, 56k is going to be only easy for bitcoin to just pass through because a hard resistance will always be followed by an easy resistance based on my amateur observation.

Right. my observation is also the same that if the $50k price resistance persists for at least a few weeks, then bitcoin will hit a new ATH later this year. Hopefully this hope can be realized soon.

[Silberman]

We’ll pass $50,000 again before too long. Bears are desperately trying to suppress the price but they will not succeed. Resistance is futile, we are in a bull market & we’ll begin our ascent again soon.

The bears got overconfident, after they were able to drive the price to the 30k level they thought they could keep pushing the price down only to find out institutional investors defending that level and buying all the coins that hit the exchanges, this gave the market time to recover the confidence of retail investors and now we are seeing the price to go up again, and I think this is going to be the case until the end of the year in which the price is bound to skyrocket just as it did during 2017.

[Johnyz]

I got here via this post.

If I'm not wrong, in the last 24 hours Bitcoin has managed to break $50k resistance before falling back to $49.4k right now. We are almost there, and I agree that breaking the resistance convincingly can lead to a FOMO.

We’re still on $50k level as of posting as Bitcoin is trying to stabilize on this level and later on will break the resistance. If FOMO will happen, then we can be able to reach the price of $55k because that’s the time where small investors will come it. The price is on a good candles, we must remain on this level to continue the trend.

[Boov]

I got here via this post.

If I'm not wrong, in the last 24 hours Bitcoin has managed to break $50k resistance before falling back to $49.4k right now. We are almost there, and I agree that breaking the resistance convincingly can lead to a FOMO.

We’re still on $50k level as of posting as Bitcoin is trying to stabilize on this level and later on will break the resistance. If FOMO will happen, then we can be able to reach the price of $55k because that’s the time where small investors will come it. The price is on a good candles, we must remain on this level to continue the trend.

Exactly these small investors will have to take the chance entering while slight downturn exist, but they should bare in mind that potential crash might trigger panic. No choice but to hold for more weeks or even months, if bear market also builds resistance. Hopefully good candles continue to remain to that level, in order to successfully survive on our investments.

[jamietao]

Bloody hedgies playing games again. They ripped it up to $60k. Then ripped it down to $30k. Now ripped it back up to $50k. And once we get get close to $55k, they'll rip it back down again to $30k and maybe even below as people lose confidence. And once everything thinks its over, they'll rip it back up again. Rinse and repeat and profit. Fucking hedgies.

[TravelMug]

Bloody hedgies playing games again. They ripped it up to $60k. Then ripped it down to $30k. Now ripped it back up to $50k. And once we get get close to $55k, they'll rip it back down again to $30k and maybe even below as people lose confidence. And once everything thinks its over, they'll rip it back up again. Rinse and repeat and profit. Fucking hedgies.

Yeah, that's the dangerous game we played here, whales and hedge fund managers ripping in our throat.

Nevertheless, everyone here is for the money, so go with the flow. If it goes down hard to $30k, then fill up our bags and wait, rinse and repeat.

It did jump to $50k, but not enough momentum to push again to $50++. Some entity is dragging the price down a bit and it seems they doesn't want the price to go above $50k for now.

[Silberman]

I got here via this post.

If I'm not wrong, in the last 24 hours Bitcoin has managed to break $50k resistance before falling back to $49.4k right now. We are almost there, and I agree that breaking the resistance convincingly can lead to a FOMO.

We’re still on $50k level as of posting as Bitcoin is trying to stabilize on this level and later on will break the resistance. If FOMO will happen, then we can be able to reach the price of $55k because that’s the time where small investors will come it. The price is on a good candles, we must remain on this level to continue the trend.

And unfortunately bitcoin is still struggling with the 50k level, it seemed as if there was a decent chance that we could leave it behind but now we are seeing an important decrease in the price that is probably going to make this not true for at least some more days or even weeks, however this is not as important as it seems, after all we know that is coming and it is inevitable at this point, we just do not know when that is going to happen, but this is not a big issue at all if you are holding your coins for the long term.