Will $50,000 be the resistant price?

[justdimin]

looks like bitcoin price is still trying to stabilize at $50k. for now I'm still referring to the analysis that was on cointelegraph a few hours ago.
I also think that the price of bitcoin may be resistant in the $50k range. Even though the bitcoin price is currently below that, I think it's very slim to reach the $50k price again, and I think, in the near future, it will return to the $50k range.
However, if the price goes down, it's likely that the bitcoin price will stay in the $46k to $49k range again. Well, this cycle repeats itself several times.

Once again, I am still very interested in the current price increase. if the price is still positive going up this month, there is a high chance that we can see new ATH in the coming month.

Source from the basis of my predictions and speculations: Price analysis cointelegraph

That resistance will not be forever, I understand analysts are a bit afraid of the fast pace we got right now and that is why they are afraid that we may not hold it until we could go even higher, but I do not believe that they are right. What they are not calculating is the hype, the "numbers" show that it will be hard to stay here but the numbers do not mean anything when people do things that make no sense. Like how we moved from 30k to 50k and it looks dangerous to buy right now?

Well, doesn't matter people do not want to miss out on another huge bull run and get in even at this price. Those type of things that do not make sense on paper can actually make things go up when it looks like it may go down. Look at doge as biggest example, doge is a coin that has absolutely no use and no reason to buy but people got hyped and made it so high, only because people wanted to, that is enough to make a thing go up.

[bitzizzix]

50K is bitcoin's goal to go higher and I hope it won't go down again, and if the bitcoin price stays above 50k for a few days, it's most likely the main goal to get back to 64K where it is an all time high and will materialize in time close.
and the rise in bitcoin price was driven by a lot of positive news and market dynamics, as well as investor sentiment.

[xypos]

Resistance no longer.

I actually think that if we see some bullishness in the coming days, $50k can actually be established as support.

The crypto markets are more mature now and the volatility indices have dropped off quite substantially, and I think that there is virtually no way we are going below $50k for an extended amount of time now.

[jaberwock]

There has to be a massive manipulation, even bigger than first time to be able to bring the price below $45k at this point. In other words I firmly believe that it was the last time we saw anything smaller than $45k.
But even if we consider the possibility of something like that, the recovery won't be fast. Keep in mind that dropping to $35k is not a simple drop, it is a huge crash and market doesn't just recover from a crash.

Manipulation in crypto world is very easy because if you are a rich person nobody will put you in jail or give you a billion dollar penalty for insider trading. Like you could get together with bunch of billionaires, and buy it all together, in turns, and make it go up and up and up. Basically do a pump and dump on bitcoin itself, and nothing will happen to you.

Manipulation like that in stock market would give you billions of dollars in trouble and that is why they can't do it, but if you do it on crypto that's fine. That is the thing about being decentralized, if you make something to go against the fiat world then fiat world owners (governments) will not be helping you, you wanted freedom and you got freedom and hence there won't be a problem. Only hypocrisy here is the fact that they regulate the income but do not defend the tax payers.

[Silberman]

If there is another sell-off, Bitcoin risks dropping to $35,000. It's still possible, after that Bitcoin will return to the $45,000 range and return to $55,000 then the buying will return again. I think Bitcoin will touch $65,000 in the next three months.

There has to be a massive manipulation, even bigger than first time to be able to bring the price below $45k at this point. In other words I firmly believe that it was the last time we saw anything smaller than $45k.
But even if we consider the possibility of something like that, the recovery won't be fast. Keep in mind that dropping to $35k is not a simple drop, it is a huge crash and market doesn't just recover from a crash.

I agree that the manipulation that was need to see 30k was massive but at the same time traders let themselves open to this happening to hem, they were using too much leverage so whales pushed the price arbitrarily down and then they got margin calls because they were not using a stop loss forcing them to sell their coins and this increased the supply while it lowered the demand, creating a new wave of margin calls in a domino effect.

[conected]

Resistance no longer.

I actually think that if we see some bullishness in the coming days, $50k can actually be established as support.

The crypto markets are more mature now and the volatility indices have dropped off quite substantially, and I think that there is virtually no way we are going below $50k for an extended amount of time now.

- Just when we thought resistance was gone and ready for a new season, the sellers started creating a new resistance and it was only slightly above the old resistance but frustrating enough for the buyers, bitcoin has once again been pushed back to the old ranges by resistance and a large amount of money has been liquidated. Based on the blinking red candle in the moment, the bullish frame has completely disappeared and fallen into the red zone, showing a weakness of the buyer position, it's hard to believe this is only a few hours after we're satisfied with a good week ahead of bitcoin

[DU18]

does anyone know the reason for the drastic decline in the price of bitcoin today?
Honestly, I was very surprised when I saw the price of bitcoin in the market today, even though I previously saw that the price of bitcoin began to strengthen at $52k and what really made me believe that bitcoin would go higher was when I read several articles that said the government of el salvador started using BTC to pay the salaries of government employees and even el salvador has bought 500 BTC.
But apparently what is happening now is beyond my expectations and even when there is positive news, the price of bitcoin actually drops and returns to the price of $46k

[lixer]

does anyone know the reason for the drastic decline in the price of bitcoin today?
Honestly, I was very surprised when I saw the price of bitcoin in the market today, even though I previously saw that the price of bitcoin began to strengthen at $52k and what really made me believe that bitcoin would go higher was when I read several articles that said the government of el salvador started using BTC to pay the salaries of government employees and even el salvador has bought 500 BTC.
But apparently what is happening now is beyond my expectations and even when there is positive news, the price of bitcoin actually drops and returns to the price of $46k

The main prediction (this is simply just assumption) is that there were a lot of whales in suits at big nations that saw El Salvador having this legal tender law put in place. Since whales didn't want nations to take over the crypto world and become more powerful, they dropped the price on the same exact day so that they would make El Salvador looking like a bad nation with bad idea, ruining their country with this.

Obviously, it didn't work out, because at the end of the day El Salvador ended up buying even more bitcoins than they imagined and now they are richer because of it, this looks like whales wanted to ruin retail and failed, just like how they failed at gamestop thing as well, people who bought gamestop were told that they would be losing bunch of money, but instead they took tens of billions of dollars away from wall street so it is awesome.

[kendedese]

bitcoin lost $6k in a very short time. looks like $50k is still a very strong barrier for bitcoin to reach $100k this year. but I'm not too worried because in September there is often a sudden drop in prices like this. bitcoin needs more power to actually cross $50k and hit a new higher ATH before 2021 ends.

[poldanmig]

bitcoin lost $6k in a very short time. looks like $50k is still a very strong barrier for bitcoin to reach $100k this year. but I'm not too worried because in September there is often a sudden drop in prices like this. bitcoin needs more power to actually cross $50k and hit a new higher ATH before 2021 ends.

actually in september bitcoin has managed to break its strongest price resistance of $50k and was able to reach a price of $52k on september 7th, but apparently that price didn't last long and drastically the price of bitcoin fell back to the price of $46k as we are now seeing , honestly also suspect that this september will be a bloody september for all of us, but even so i have no doubt that all the possibilities will happen later to the bitcoin price and we now just need to be patient waiting for the right momentum for the bitcoin price to reach its ATH again .

[beerlover]

Manipulation in crypto world is very easy because if you are a rich person nobody will put you in jail or give you a billion dollar penalty for insider trading. Like you could get together with bunch of billionaires, and buy it all together, in turns, and make it go up and up and up. Basically do a pump and dump on bitcoin itself, and nothing will happen to you.

Yeah, manipulations are part of every market. After what happened recently, I have to say that breaking over 50k and staying above 50k will be a tough task. I mean we did manage to break over 50k multiple times and I am 100% sure that we will do that again, but doing it and staying there are very different stuff.

If we could manage to go up and stay there for a long time then we will actually see a breakout and the price will be very high, however if we do it and manage to fail then it will definitely drop a lot more than it did this time. Remember price always "tries", it either tries to go down or it tries to go up, if it tries to go down but fails to do it too much, only drops 5-10% then it will start to go up because people will think "well it tried to go down and failed meaning it is a great time to buy since only direction left is up", and exactly the reverse right now because it tried to go up and failed, meaning down is the only way left.

[Kittygalore]

bitcoin lost $6k in a very short time. looks like $50k is still a very strong barrier for bitcoin to reach $100k this year. but I'm not too worried because in September there is often a sudden drop in prices like this. bitcoin needs more power to actually cross $50k and hit a new higher ATH before 2021 ends.

But it has already broken that point so I don't think that we're going to see any kind of resistance again when bitcoin goes back to that point, the flash crash was so sudden but it's not going to be hurting the market for the long-term, someone out there must've probably wanted to take some profit so they're selling their bitcoin.

[Spack17]

After witnessing Bitcoin price to fall down very sharply by $10k, we see it at $45k now. It looks like it will need to break the $50k resistance again if it starts recovering soon. But Bitcoin is having a difficulty in even breaking the current resistance level as people started selling their coins. Panic sellers are helping the destruction of the market now. The coming days can bring about even a lower price than this but I hope that it won't happen.

[Questat]

After witnessing Bitcoin price to fall down very sharply by $10k, we see it at $45k now. It looks like it will need to break the $50k resistance again if it starts recovering soon. But Bitcoin is having a difficulty in even breaking the current resistance level as people started selling their coins. Panic sellers are helping the destruction of the market now. The coming days can bring about even a lower price than this but I hope that it won't happen.

Most of the time, there was a strong recovery after its correction but I'm not going to say it was in the same scenario we may see after this current decline. It is for now that $50k is the resistance price but for sure it was subject to change depending on the market flow. We might not know that the next surge will be reaching $60k, can't disclose such a chance knowing that the current demand for Bitcoin is really high.

[carlisle1]

After witnessing Bitcoin price to fall down very sharply by $10k, we see it at $45k now. It looks like it will need to break the $50k resistance again if it starts recovering soon. But Bitcoin is having a difficulty in even breaking the current resistance level as people started selling their coins. Panic sellers are helping the destruction of the market now. The coming days can bring about even a lower price than this but I hope that it won't happen.

Can't deny that! Panic sellers are helping dumpers to bring the value to fall for more.

It's tough to pick side if you are unaware of how the market will move,
there are many speculation and if you are not careful, you might lose a lot too.

It's between your trust and how the market will behave. You need to work with
your judgement and not to make mistakes during this kind of situation.

[StreakW]

Bitcoin price failed to hold above $50,000 in the past week and dropped drastically. The price is now trading below $47,000. Bitcoin price is showing bearish signs below $45,000 and could even drop to as low as $42k if it fails to hold above $47k and $48k.

[mr500]

If it will really be the resistance price I would happy.The next major resistance, for now, is at the $50,000 zone,” said Konstantin Anissimov, executive director at CEX.IO crypto exchange. “Should more buyers dive in to push the price above the $50,000 level, a frenzy may be ushered in to steer the price toward a medium-term target of $55k
I actually think that if we see some bullishness in the coming days, $50k can actually be established as support.

[TravelMug]

Bitcoin price failed to hold above $50,000 in the past week and dropped drastically. The price is now trading below $47,000. Bitcoin price is showing bearish signs below $45,000 and could even drop to as low as $42k if it fails to hold above $47k and $48k.

It did drop to $41k, so the support along $43k was breached. The good thing is that we are back though to the line, we have a significant bounce back in the last  24 hours, so we are trading above $43k now.

So the obvious target will be $45k-$48k again, the same in the last week of August and entering this month. So yeah, the pattern that September seems to remain the same for this year. Nevertheless, if history repeats itself, then October to December is going to be very bullish.

[jaberwock]

It did drop to $41k, so the support along $43k was breached. The good thing is that we are back though to the line, we have a significant bounce back in the last  24 hours, so we are trading above $43k now.

So the obvious target will be $45k-$48k again, the same in the last week of August and entering this month. So yeah, the pattern that September seems to remain the same for this year. Nevertheless, if history repeats itself, then October to December is going to be very bullish.

I would say that breaking support and going over the previous support are not the same things. So if there is a support at 43k, and you break under it and become 41k, after you go over 43k again that doesn't make it a support again, nor does it make it a resistance, it just makes it a regular price. However it definitely does look strong right now, I would be happy as an investor to see the recovery so quickly as well.

It is something that we would definitely need before we could see a good increase. Doesn't mean that we will break over 48k once again, but it means that we are at least trying to do that. I would agree that 45k+ is the first line of defense we need to break over.

[Ngemmeng]

Bitcoin price failed to hold above $50,000 in the past week and dropped drastically. The price is now trading below $47,000. Bitcoin price is showing bearish signs below $45,000 and could even drop to as low as $42k if it fails to hold above $47k and $48k.

It did drop to 42k but I don't see any problem with that because it's just another opportunity for me to buy more bitcoin and other altcoins that are going red right now because I know that after some dumps, we will see it go up again.

yes it is your right to buy at any price, but you also have to be careful because the current bitcoin price still tends to decline. do not rule out after you buy the price of bitcoin again decreased. not forever after the dump the price will go back up because it could be that after the dump there will be another dump.