Bitcoin going to $53k or down to $48k? (Bullish Scenario)

[leea-1334]

Of course in the long run you don't need to worried, but it's better to look at the reason of the downfall this month (although we all know that historically, September seems to be one of the worst month like every year). We need some news that will fomo new investors again and we might got that news in November (taproot).

But we also need to realize that there is not necessarily a reason for the downfall other than natural market forces (more sellers than buyers, not necessary to be because of weak hands or panic). Maybe people need to pay taxes, maybe it is preparing for holiday, but no significant fixed reason I think!  

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[mr500]

Here I make a bullish scenario about bitcoin where we will go to $53k maybe even $55k.

Bitcoin is currently fighting its major resistance at $50k, although some of my friends want to start short, I forbid it because bitcoin in the minor Elliot wave allows it to pass through the major resistance.

Well, even then it could be that bitcoin has just finished its wave 1 and will be on the way to its wave 2 where we will find bitcoin at $48k again.

What do you think about bitcoin price predictions?

Thank you for taking the time to discuss this bitcoin price prediction. I understand that you are a busy person and I appreciate any advice you can give.

Today the BTC price $42k which is 4% less in 24 hours and 2% less in this week rather the previous months . Ups and downs all over the cryptocurrency market cap . It is easy to Predict but unfortunate most of the time predictions don't hit the target line .

[Yaunfitda]

Of course in the long run you don't need to worried, but it's better to look at the reason of the downfall this month (although we all know that historically, September seems to be one of the worst month like every year). We need some news that will fomo new investors again and we might got that news in November (taproot).

But we also need to realize that there is not necessarily a reason for the downfall other than natural market forces (more sellers than buyers, not necessary to be because of weak hands or panic). Maybe people need to pay taxes, maybe it is preparing for holiday, but no significant fixed reason I think!  

I agree, we can't really pinpoint the exact reason for the sudden downfall, nevertheless, even if we close out this month in red candle, still above $40k is strong price in my opinion.

People sell for different reason, maybe not because they are afraid that the market will continue to fall, but for personal reasons that you have mentioned. So I guess this month is not going to be on our side. But I expect a big bounce in October to November.

[slaman29]

So, all in all if the price is falling that means we are doing that not only because people are selling but also because people are not buying enough. If bitcoin loses the interest of investors then it gets harder to get them back, not impossible, but those 2017 investors got cold feet in 2018 and took us 2 years to get them back, so we should be careful about making them lose interest.

Wonder what buying enough means, most people who have been in here long term are allready doing DCA, which means they're buying whenever it's time to buy, at whatever amount their income has allowed them. Or like me earning in a dollar amount fixed, so whatever the price of BTC is, that's what I get.

Don't forget it's not really useful to measure investor interest in random timeframes.

[leea-1334]

But we also need to realize that there is not necessarily a reason for the downfall other than natural market forces (more sellers than buyers, not necessary to be because of weak hands or panic). Maybe people need to pay taxes, maybe it is preparing for holiday, but no significant fixed reason I think!  

I agree, we can't really pinpoint the exact reason for the sudden downfall, nevertheless, even if we close out this month in red candle, still above $40k is strong price in my opinion.

People sell for different reason, maybe not because they are afraid that the market will continue to fall, but for personal reasons that you have mentioned. So I guess this month is not going to be on our side. But I expect a big bounce in October to November.

What about people just selling because they need to sell? This was what I meant by my earlier statement,,, that every time market falls people think it is sellers who have weak hands or are scared, but what about just it so happens that in any month, people are selling regardless of news. Like I guess my own example I always sell if I need the money.

Maybe it is nothing but coincidence more people are selling than buying. This is simple market possibility But I totally agree. $40k is still such a strong price!

[Cafex]

Recently, it looks like Bitcoin price is not going upwards anytime soon. I would really want to see a bullish scenario before the end of the year. But China's FUD has left a bad affect on the market. And we don't know when the market will be able to recover. I hope to see a bull run in this year to be able to witness a new ATH. And maybe we can see bigger levels then.

[Ararbermas]

Bitcoin at this point isn't stable and there is a bunch of correction in the price, and infact it always trying to break the current support but it always faild and going up again. For me in my personal opinion if next time it didn't respect the current support during the correction for sure bitcoin will seek another strong support below $40k. I hope it didn't happen, lets just kee holding..

[lepbagong]

Bitcoin price dropped right after the second half of the daily candle started and the price dropped as low as $42k. BTC closed the daily candle looking very strong technically and closed the day at its highest price since May this year. Despite the recent momentum BTC price fell by a percentage at one point down as much as 15%. It should be a good day for bitcoiners to rejoice that El Salvador has officially adopted bitcoin as a legal tender but the party has been spoiled somewhat by the price action to the downside.

good news like el savador and now there are also other countries, it doesn't seem to be able to give fresh air to the bitcoin movement. currently bitcoin continues to fall to the level to approach $40K, if this happens it is clear that this is a bad precedent that we cannot know anymore, will the correction to the price below $40K be able to pick it up again when entering Q4??

clearly optimistic that there will always be as you said that the bitcoin drop point is in the range of -15% and but from the last ATH it has shown a decline of up to -36%. if you look at it, it doesn't seem worrying enough because it's still above 50% of the last ATH, so there is the ability to catch up that might have been missed. we are waiting for the end of this year and all remain optimistic.

[jostorres]

Bitcoin at this point isn't stable and there is a bunch of correction in the price, and infact it always trying to break the current support but it always faild and going up again. For me in my personal opinion if next time it didn't respect the current support during the correction for sure bitcoin will seek another strong support below $40k. I hope it didn't happen, lets just kee holding..

Most of the peoples in community was feeling very good after having some good adoptions in last few weeks, but we have no results like this community was expecting because there are many other factors also working around like China and USA regulations and Whales are also playing their own games because they want some good profit which is only possible through their own games which are they playing and having enjoying results.

But, it's never been new because we have many years here like this good thing, after every year we are improving and watching strong price after serious corrections.

[Hippocrypto]

What I can advice you now and for other long time desirable traders is keep and brace yourselves before we will be heading towards another waves of pumps. This time will be more exciting as price struggles to recover, and projections is really going to catch $50k back.
Definitely, if nothing's going to hinder the recent market developments I think we will be moving upwards with an unexpected price much higher than previous ATH.

[cryptomaniac_xxx]

What I can advice you now and for other long time desirable traders is keep and brace yourselves before we will be heading towards another waves of pumps. This time will be more exciting as price struggles to recover, and projections is really going to catch $50k back.
Definitely, if nothing's going to hinder the recent market developments I think we will be moving upwards with an unexpected price much higher than previous ATH.

I believed that we are going to catch up with that $50k again. Right now we already have a good recovery period, we are heading to another price resistance of $45k, and I think that is good enough for the market and traders.

Because it's a good indication, we just started this month and it seems we are in the green candle already. So $50k is there again for us to take, and if we have another good news, then FOMO, this price is attainable again this month.

[RealMalatesta]

What I can advice you now and for other long time desirable traders is keep and brace yourselves before we will be heading towards another waves of pumps. This time will be more exciting as price struggles to recover, and projections is really going to catch $50k back.
Definitely, if nothing's going to hinder the recent market developments I think we will be moving upwards with an unexpected price much higher than previous ATH.

I believed that we are going to catch up with that $50k again. Right now we already have a good recovery period, we are heading to another price resistance of $45k, and I think that is good enough for the market and traders.

Because it's a good indication, we just started this month and it seems we are in the green candle already. So $50k is there again for us to take, and if we have another good news, then FOMO, this price is attainable again this month.

I do agree that we will reach to 50k+ once again, I am not sure if we can sustain it, because we may fall again when the price goes over 50k, but I know that there is a good chance we can reach to that level. What we need to do is not to focus on going over 50k because that is something we can do, maybe now or maybe a week from now or a month from now but it will surely happen, we know that it will happen.

The problem is not reaching 50k but it is sustaining above it. In order to sustain above that price we need to not let any whales impact our trading and we should not be getting scared because of some news, and certainly do not care if China says something bad again, which they will try to do whenever price goes up. During 2021 early bull run they tried as well but we didn't care, we should be like that, just keep the hopes up and price will be up.

[BuNga_cute]

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I believed that we are going to catch up with that $50k again. Right now we already have a good recovery period, we are heading to another price resistance of $45k, and I think that is good enough for the market and traders.

Because it's a good indication, we just started this month and it seems we are in the green candle already. So $50k is there again for us to take, and if we have another good news, then FOMO, this price is attainable again this month.

I do agree that we will reach to 50k+ once again, I am not sure if we can sustain it, because we may fall again when the price goes over 50k, but I know that there is a good chance we can reach to that level. What we need to do is not to focus on going over 50k because that is something we can do, maybe now or maybe a week from now or a month from now but it will surely happen, we know that it will happen.

The problem is not reaching 50k but it is sustaining above it. In order to sustain above that price we need to not let any whales impact our trading and we should not be getting scared because of some news, and certainly do not care if China says something bad again, which they will try to do whenever price goes up. During 2021 early bull run they tried as well but we didn't care, we should be like that, just keep the hopes up and price will be up.

With the current Bitcoin price making it back to $48k, that means it's getting closer to hitting $50k again. I am optimistic that the price of $50k
will be reached in the next few days, actually the price of $50k will indeed be reached soon, but the problem is whether after that it will go down
again or not. It's true that keeping the Bitcoin price above $50k is very difficult, because there are whales who often manipulate prices to profit
from the volatile Bitcoin price. So we should not be influenced by the circulating FUD, so that we are not easily influenced by the manipulations
carried out by the whales. Hopefully if the price of $50k is reached Bitcoin can sustain and continue rising again to the next resistance price.
So we could see Bitcoin return to ATH prices before the end of the year.

[Dave1]

Is the chart still applicable or have been invalidated already?

We are already in a new month and for me, we have a new bullish scenario that is forming.

Currently, we have a massive price uptick in the last 24 hours, pushing it to almost $48k again.

So maybe we need to update, and chart it and see where the price is going to head at least for this month.

[carlisle1]

Is the chart still applicable or have been invalidated already?

We are already in a new month and for me, we have a new bullish scenario that is forming.

Currently, we have a massive price uptick in the last 24 hours, pushing it to almost $48k again.

So maybe we need to update, and chart it and see where the price is going to head at least for this month.

the month opener seems friendly with Bitcoin day traders, that 10% rise is cool enough to end your day sessions.

Day trader who bought each falls and wait for good timing when bounce happened.

Good point to change it up now and see if how the chart comes out, there's a big chance that with this market movement,

it's more likely change in directions, bullish is waiving I guess.

[Baofeng]

Is the chart still applicable or have been invalidated already?

We are already in a new month and for me, we have a new bullish scenario that is forming.

Currently, we have a massive price uptick in the last 24 hours, pushing it to almost $48k again.

So maybe we need to update, and chart it and see where the price is going to head at least for this month.

the month opener seems friendly with Bitcoin day traders, that 10% rise is cool enough to end your day sessions.

Day trader who bought each falls and wait for good timing when bounce happened.

Good point to change it up now and see if how the chart comes out, there's a big chance that with this market movement,

it's more likely change in directions, bullish is waiving I guess.

If the price reaches $53k, then it is invalidated. But so far we haven't reach that price level so this scenario is still very much open. However, as you have said, October seems to be a month that we might find new scenario's and break out run as there is a bullish momentum, gaining 10% and touching $48k-$49k is just short period.

So let's see how it pan out, hopefully we can go to $53k, and then hopefully the OP will plot another chart and give us a new prediction or scenario again.

[Rimueng]

As we can see in the crypto market the last few days where the price of bitcoin continues to experience a significant decline, most likely even towards the $48k level. Therefore, we hope that something big will happen, namely there will be a reversal that will make it a pullback or even bullish again at the beginning of next year. Will it continue to go down or up.

[arufox]

Looking at the significant drop in bitcoin prices the last few weeks, it looks like bitcoin prices will hold between $55k to $57k until the end of December. Therefore, the bitcoin market is currently entering a bearish phase. But I believe early next year bitcoin price will rise again.

[cryptomaniac_xxx]

Looking at the significant drop in bitcoin prices the last few weeks, it looks like bitcoin prices will hold between $55k to $57k until the end of December. Therefore, the bitcoin market is currently entering a bearish phase. But I believe early next year bitcoin price will rise again.

It could be bearish outlook for now, but I believed it will be short term though. Maybe this week we might see a significant drop, but after that we might recover and bounce back to $60k again at least that will be the price I'm seeing this December.

Next year, it might be different though, as we might have settled down a bit, specially the bad news about the new covid variant. Maybe that time the public has been assured that it you got the vaccine already, this new variant will not be that severe after-all as initially thought.

[Rufsilf]

As we can see in the crypto market the last few days where the price of bitcoin continues to experience a significant decline, most likely even towards the $48k level. Therefore, we hope that something big will happen, namely there will be a reversal that will make it a pullback or even bullish again at the beginning of next year. Will it continue to go down or up.

These past few weeks, bitcoin is currently declining significantly, and since the month of December starts it dips more until todays value at 48.4k USD. Traders and investors are currently silent while being optimistic at the same time, watching for the price to regain or recover from it's correction and dip. Maybe we will experience this the whole month or maybe there will be some huge happenings before this month and year ends, we don't know about it yet. So it's better to hold now and be patient, don't panic and sell just because of the declination. Make this a positive way to earn and gain profits when the market starts to recover.