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

[soenan]

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.

[rahmatrf331]

looks like bitcoin will break through $53k this week with very good market conditions. lately many signals say that bitcoin will pump again. the market is on a bullrun could the chart pattern go down again to $48k. but we will see for ourselves what will happen in the next few days, because not all predictions can be right.

[TravelMug]

Resistance around $50k has been breached, maintain/sustain already, and we are now into $52k'ish.

So most likely the scenario will be $53k-$54k this week and not going down to $48k again. We are already in a bull run, so it's hard to stop, but we might see some minor dip. But it won't happen until we hit at least $55k. And then the cycle repeats again, the resistance that we are seeing right now will be the support.

[Dave1]

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.

This has been invalidated already since you last posted, we are going to $53k.

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.

Since your first scenario has been invalidated, I don't think that we will find bitcoin $48k.

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.

Perhaps the next leg up is $55k. If we go to this price within the next two weeks, we might see anothe correction though.

[Fundamentals Of]

$48,000 is not in sight for now. So we could forget about that for the time being. $53,000 is very near though. We will definitely be hitting $53,000 very shortly. It looks like it is not just a possibility but a certainty. It will happen any hour or minute from now. As of this posting, the price of Bitcoin is just less than $300 shy of $53,000. The next resistance is probably be at around $55,000 so the correction might be happening there. $48,000 is too far down.

[Chato1977]

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.

looks like 53k is an easy target now as Bitcoin already made more than 2k in the last 24 hours.

but given the value drops back to 48k still that is the sign that people making profits before the bull finally comes.

[pooya87]

This is just a slow rise for now so there won't be any big jumps anytime soon and similarly there won't be any big drops (such as the $4k dump you suggested) either. If the momentum is built up enough we can see a big jump to over $60k in a very short time otherwise the price will creep to $60k then maybe jump after that.

[Kittygalore]

I don't think bitcoin goes any lower than that, probably go back to 50k or at worse 49k but it's unlikely for 48k even if the difference is just around a thousand dollar. The prediction might even not go the right way and the prices only go up further than expected.

[adaseb]

Bitcoin is rallying today because of the EL Salvador news which is that it becomes legal tender today. This was known for months but the President announced for some weird reason that they bought 200 BTC recently (200 BTC prior to this) and most likely will be buying more.

So given that there are 6 million people in that country and each person gets $30, thats $180M. However there is obviously not going to be every single person downloading the wallet to get the $30. And keep in mind that most likely, if someone is poor, they will sell that $30 almost immediately and cash out. So even though there is a large buyer, there is going to be tons of sellers at the same time.

[rodskee]

since last year i am bullish about Bitcoin so your question wasn't enough for me.

best to ask if going to 60k or down to NEVER 

people here and there had finally understand bitcoin now and what are we seeing is a legitimate investments and not just those who wanted to Buy and sell or those manipulating whales.

this is the true crypto market in which believers are most buyers.

[Maslate]

If we could just rely on the chart, that most probably drops back to $48k and then pump again. However, it was not the real case to happen, it can be right or wrong. Playing on the zigzag pattern I was really thinking about the short correction before it rises again. If we are in the plan to buy, it is a need for us to wait for a while and have its position when it drops a few bucks.

Anyway, just only a few bucks different, it never affects us, especially when are holding long-term.

[pooya87]

Bitcoin is rallying today because of the EL Salvador news which is that it becomes legal tender today. This was known for months but the President announced for some weird reason that they bought 200 BTC recently (200 BTC prior to this) and most likely will be buying more.

Technically this can not be true because of how "news" works. If a positive news is to affect bitcoin price, it affects it right away as the news itself comes out. Same with negative news. So when a couple of weeks ago they said El Salvador is going to adopt bitcoin as legal tender, it affected the market then and there. Today there is nothing left, and the news is already considered old.

[Dr.Osh]

i am inclined to speculate that bitcoin price will hit $53k in the near future. well, looking at the current bitcoin price, that $53k price is very close. other than that, we are still in a period of market recovery.

based on the price analysis that Cointelegraph today, I also think that the next target is $55k, before we hit $60k. it happens if the price of bitcoin continues to rise, and I hope so too, and see new ATH this month, or early next month. unfortunately, if there is a decline, the bitcoin price will most likely be in the range of $48k. however, it's better than being in the under $45k range.

[Coin_trader]

I don't think bitcoin goes any lower than that, probably go back to 50k or at worse 49k but it's unlikely for 48k even if the difference is just around a thousand dollar. The prediction might even not go the right way and the prices only go up further than expected.

There's a chance since the 200EMA line is under 48K which is the final support for trend. Always take consideration the worst case scenarion because many whales are watching carefully on price movement. There's always a FUD for every major resistance attempt to break by Bitcoin. But the current chart is indeed very bullish but we should always expect the unexpected on this crazy crypto market.

[Coin_trader]

I don't think bitcoin goes any lower than that, probably go back to 50k or at worse 49k but it's unlikely for 48k even if the difference is just around a thousand dollar. The prediction might even not go the right way and the prices only go up further than expected.

There's a chance since the 200EMA line is under 48K which is the final support for trend. Always take consideration the worst case scenarion because many whales are watching carefully on price movement. There's always a FUD for every major resistance attempt to break by Bitcoin. But the current chart is indeed very bullish but we should always expect the unexpected on this crazy crypto market.

As expected, Market crash after there's no more fuel to hype. This current crash is not a healthy correction at all and might result to the end of this uptrend channel. I hope Bitcoin price will manage to recover above 48K and closed a candle above it.

Whales surely play very smart on retail traders money that got hype. I hope everyone is trading safe right now and avoid futures trading.

[SquallLeonhart]

i am inclined to speculate that bitcoin price will hit $53k in the near future. well, looking at the current bitcoin price, that $53k price is very close. other than that, we are still in a period of market recovery.

based on the price analysis that Cointelegraph today, I also think that the next target is $55k, before we hit $60k. it happens if the price of bitcoin continues to rise, and I hope so too, and see new ATH this month, or early next month. unfortunately, if there is a decline, the bitcoin price will most likely be in the range of $48k. however, it's better than being in the under $45k range.

I would say it is definitely looking like a breakout chart and that is why I agree with cointelegraph. Which is rare because normally they are not very good at chart reading (something very simple for someone who gets paid so much to do something), they always end up checking it on the wrong end, or taking the wrong time for the period they are looking for. I feel like this one is quite possible, I am expecting 60k in September.

I am not sure about all the 100k talk in the air, that seems like way too much to go for now, it could still happen in the future, but my maximum aim for September is 60k and that will probably happen. Let's hope that it doesn't have a crash afterwards, going up is one thing but "not going down" is a bigger challenge, if we could do that then we would be doing something amazing.

[Vaculin]

I don't think bitcoin goes any lower than that, probably go back to 50k or at worse 49k but it's unlikely for 48k even if the difference is just around a thousand dollar. The prediction might even not go the right way and the prices only go up further than expected.

There's a chance since the 200EMA line is under 48K which is the final support for trend. Always take consideration the worst case scenarion because many whales are watching carefully on price movement. There's always a FUD for every major resistance attempt to break by Bitcoin. But the current chart is indeed very bullish but we should always expect the unexpected on this crazy crypto market.

As expected, Market crash after there's no more fuel to hype. This current crash is not a healthy correction at all and might result to the end of this uptrend channel. I hope Bitcoin price will manage to recover above 48K and closed a candle above it.

Whales surely play very smart on retail traders money that got hype. I hope everyone is trading safe right now and avoid futures trading.

The news about El Salvador buying bitcoin seems does not help to continue the hype of bitcoin. With this heavy dump, we should be careful as it could result in further dump since whales' manipulation is being stated as the main reason. If the whales had already cashed out, then I'm sure they will not allow the price to go up, for now, they would make this to continue dumping so they can accumulate again.

Las time we saw bitcoin dump below $30k, most likely we will see the same scenario if we are talking of accumulation.

[Kusman]

Bitcoin price dropped down from $52.8k to $43k in only approximately half an hour as far as I remember. It was really shocking for me. I didn't even witness the decrease live as it happened in a very short time period. I must admit that this is really huge and it made me scared. They say that the reason could be that miners sold a lot of coins. But I don't know whether this would affect the market this serious. Still, I hope to see another recovery from the price. But it might take some time seemingly.

[hatshepsut93]

This current crash is not a healthy correction at all

Why not? The market had no real corrections from $30k to $53k, so it's not that bad to see a flash crash, which are quite common in Bitcoin. I agree that there's a considerable risk of downtrend and bear market, because this recovery could have been just a bull trap, but it just as easily can be a stop on the road to new ATH. This is why short term trading is so risky, anything can happen on a small time scale.

[Dave1]

Bitcoin price dropped down from $52.8k to $43k in only approximately half an hour as far as I remember. It was really shocking for me. I didn't even witness the decrease live as it happened in a very short time period. I must admit that this is really huge and it made me scared. They say that the reason could be that miners sold a lot of coins. But I don't know whether this would affect the market this serious. Still, I hope to see another recovery from the price. But it might take some time seemingly.

Yeah, I was surprised to see this quick dump, weird though, perhaps the whales dump because of the El Salvador news. I said previously that $48k might not be touch again, but I was completely wrong. Market is very volatile and the increase that we are expecting didn't happen.

Anyhow, from $43k dump to $47k now, can we say that we are into the road to bounce back to $50k'ish? Or will the price remain sub $50k, or until the news of El Salvador has somewhat settled down? Remains to be seen.