Bitcoin Bull Tamed

[BIN-BIN]

This week started with a high, not after bitcoin price went to an all-time high off above $50k, which is the highest price since May 2021, before dropping to $49k in the early hours of Tuesday this week.

Since then Bitcoin has been trying to climb back to that $50k benchmark but have faced so much resistance till this very moment, various analysts have predicted the price to stay above 50k this week but as we are all aware of the volatility in the Bitcoin market the week resided between $46k to $47k price with strong resistance.

What are your views on this, is the Bitcoin bull run tamed already or just gathering some momentum before breaking the limit?

[Bazley]

I think the decline is to better rise. I still think the bull market will continue.

[mk4]

Remember months ago when bitcoin tried multiple times to break the $20k barrier but couldn't for a while? Yea, where are we now?

I'm not saying that it's guaranteed for bitcoin to break up $50k in the near future, but it pays to be patient.

[MrcMrc]

The present pullback is just a temporary price set back which will be over soon if you have been monitoring the entire market you see that even when Bitcoin price falls back to $47,000 the price of ethereum and other altcoins were still gaining before, they finally join the pullback in the late hours of Wednesday. The present conditions will not last long before the next price breaks out, which will cause a new all-time high for Bitcoin and other coins in the market.

[DaveF]

As of now 11:45 EST 26-Aug we are still up 2.75% over the last 7 days.
And we are 20% above (giver or take) where we were 30 days ago

Yes we are off of our highs, but that is just the nature of the volatility of BTC at the moment.
And lets face it we are 4X what we were 1 year ago.

-Dave

[zanezane]

Remember months ago when bitcoin tried multiple times to break the $20k barrier but couldn't for a while? Yea, where are we now?

I'm not saying that it's guaranteed for bitcoin to break up $50k in the near future, but it pays to be patient.

Now that bitcoin's going in the red, they're starting to get out of their dens and try to put down and make negative stuff about bitcoin when clearly there's no reason for them to do so except for a temporary gratification. To be honest, this dip in the prices after reaching 50k makes for a good sign that it's going to be bigger in the future so I agree with @mk4, it pays to be patient.

[blue_nexus15]

Without any effect to threaten continuation of the downtrend, some guys are digging up old stories to create fud and the market doesn't seem to have the strength to fight, but it's like a "fake dip". I am still optimistic that there will be a mysterious fall and a very strong increase.  This is the last doubtful possibility to end August.

[Ibrahim60]

I think the decline is to better rise. I still think the bull market will continue.

I also think so that the bull run is not tamed yet. In this time Bitcoin price is so much volatile. This price increase some and decrease again. I think this is happening for making a new highest. I think Bitcoin will hit a new highest price of all time. This is the time to buy some Bitcoin and hold them tightly. Hope anyone can get huge profit by holding Bitcoin.

[Raflesia]

We will see some momentum going forward how strong bitcoin will reach its limit because for me the current bullrun is not easy to tame even more the resistance is there but it will wait for the right moment.
Maybe I'll be a little patient in the near future to hit $50K again, I'll see how this resistance before is even more skewed in the right direction where bitcoin will bull again.
But the support stage is $45K this will be a low point.

[DarkDays]

Remember months ago when bitcoin tried multiple times to break the $20k barrier but couldn't for a while? Yea, where are we now?

I'm not saying that it's guaranteed for bitcoin to break up $50k in the near future, but it pays to be patient.

Agreed. Despite the market looking like is struggling it is necessary for it to continue on what I suspect  to be the second wave of the bull market.

All, I'm saying is that it has done it before and now it is no different. It just requires a little more momentum which this time may be coming from retail investors... Only time will tell 

[RILWAN]

I don’t think so bitcoin is not tamed as the entire cryptocurrency market suffered some loose in the early hours of Wednesday until this very moment. In the coming week, bitcoin is going to recover fully. The only advice to every holder is to continue holding because September is going to be very exciting for bitcoin market the bull run is going to be in full force, just my predictions.

[Kyraishi]

This week started with a high, not after bitcoin price went to an all-time high off above $50k, which is the highest price since May 2021, before dropping to $49k in the early hours of Tuesday this week.

Since then Bitcoin has been trying to climb back to that $50k benchmark but have faced so much resistance till this very moment, various analysts have predicted the price to stay above 50k this week but as we are all aware of the volatility in the Bitcoin market the week resided between $46k to $47k price with strong resistance.

What are your views on this, is the Bitcoin bull run tamed already or just gathering some momentum before breaking the limit?

Historically, around 1 year after the halving event is generally when bitcoin prices correct and adjust downwards.

I think that we are nearing that stage right now, although timing the market is notoriously difficult and I don't think that anyone can do it with accuracy especially in a volatile asset class like bitcoin.

I would stay off buying any lump sums right now and stick to buying small chunks, but periodically and consistently, if you want to get into BTC for the long run.

[Oceat]

Without any effect to threaten continuation of the downtrend, some guys are digging up old stories to create fud and the market doesn't seem to have the strength to fight, but it's like a "fake dip". I am still optimistic that there will be a mysterious fall and a very strong increase.  This is the last doubtful possibility to end August.

Yeah, this seems like a fake dip or a bull trap but just like you I am optimistic about it that it would pump even more after the small dump. As I look at the chart it looks like it's going to pump soon but the possibility of it to dump is kind of small if you are going to analyze the pattern of its price movement within this month.

I hope $50k is not the final price before the correction start and we might back again to $30k+ or something.
Maybe that's just the bottom price for this year or nah I still don't know so let's just wait and see what will going to happen.

[Boov]

I'm still confident that the bull market will still continue to be fulfilled, and what we witnessed today was just a mere corrections. Several times we've encountered this scenario, and we need not to worry on this current fluctuations happening because if you learned all the previous chart patterns I guess panic won't happen on someone else. Recently btc price went down at lowest of $46k plus, hopefully it will recover up to $48k the next day if no problems going to persist.

[Slow death]

the bitcoin market works as follows:

1 - whenever the price cannot break a great resistance, it falls to a strong support

2 - whenever the price cannot break a strong support, it goes up to break a strong resistance

[Fundamentals Of]

It has been rise high and then fall a little in the past several days so I am not at all bothered by what seems to be a normal correction. The price is still well within a range where the next rally would once again try to leave $50,000 behind. I think the price would be consolidating around $47,000 and then attempt once again to convert $50,000 from resistance to support. If not, then S2F could be true and we will see Bitcoin's price around $43,000 come September. And then better days will follow in the next few months.

[Kemarit]

Nah, I don't think that the bulls have been tamed, remember that there are billions of bitcoin future contracts that are going to expired by today. So obviously, then want the price to go down a bit and that has always been the case if you are going to look at the price history in correlation about the expiration. So let's wait tomorrow and up to the next week, the price will go back again above $50k.

[Wexnident]

Gathering momentum. $50k is a pretty big wall imo but it doesn't seem like it would stop Bitcoin that much. Even if it did do so, I doubt it would fall off that much since the Bitcoin market right now has pretty grade foundations and support. I'd also reckon that once the market breaks out of $50k, it'd be rather easy to actually reach $60k, and only there would it stop to steady its growth. We've been up for quite a few weeks now so really, it stopping just below $50k is rather understandable, and heck, you always need that little bit of patience when dealing with the volatile market.

[GreatArkansas]

These past few days and upcoming days are crucial for Bitcoin, monthly candle close is coming.
A lot of people are waiting for this. I am also looking forward if Bitcoin will be able to close above $50,000 for monthly candles.

This current price level of Bitcoin looks good, more on sideways, as long as we don't see a huge dump below $40,000. Bulls are still here.

[Yaunfitda]

These past few days and upcoming days are crucial for Bitcoin, monthly candle close is coming.
A lot of people are waiting for this. I am also looking forward if Bitcoin will be able to close above $50,000 for monthly candles.

Hopefully we can close this month still in green candles.

This current price level of Bitcoin looks good, more on sideways, as long as we don't see a huge dump below $40,000. Bulls are still here.

Right, as long as the price is above $40k-$43k, the bull are still inside the market, maybe they've just taken a short rest. So I'm expecting them to come ride starting tomorrow up to the end of this month. And now as we enter the most exciting quarters again, the bulls momentum are going to be high.