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

[tz]

I still think that breaching $50k is an eventuality.

People are getting way too caught up in this current dump without realizing that it is entirely transitory. We have seen this sort of correction over and over again and some still don't realize that this is just a great buying opportunity.

Start DCAing at this level and you will make lots in the long term. No doubts about it.

[Shasha80]

I still think that breaching $50k is an eventuality.

People are getting way too caught up in this current dump without realizing that it is entirely transitory. We have seen this sort of correction over and over again and some still don't realize that this is just a great buying opportunity.

Start DCAing at this level and you will make lots in the long term. No doubts about it.

The corrections that have occurred in Bitcoin today have happened many times, so there is no need to worry. From the start, we knew that
the price of Bitcoin was volatile and that there was a lot of price manipulation by whales too. I believe the Bitcoin price will recover soon and
will rise again above $50k next week. Because Bitcoin is fast to recover, so instead of worrying about the current situation, why don't we use
the Bitcoins price drop now to buy Bitcoins again. Because based on my analysis now the price of Bitcoin is very low, so it is very good to
collect Bitcoin now. So when the price goes up, we can get a big profit.

[ethereumhunter]

I still think that breaching $50k is an eventuality.

People are getting way too caught up in this current dump without realizing that it is entirely transitory. We have seen this sort of correction over and over again and some still don't realize that this is just a great buying opportunity.

Start DCAing at this level and you will make lots in the long term. No doubts about it.

Breaking $50k will happen soon, but we need to enjoy this moment by buying bitcoin as much as possible before the price starts increasing and back to $50k. The price can still get down as we see the price now is at $45k. There is nothing to worry about because we already had the experience before.

Hopefully, people will not panic to see the price still getting down instead of trying to use this moment for their benefit.

[beerlover]

The pandemic has indeed made most people experience an economic crisis, so it is not easy to consistently hold the Bitcoin that we have.
Sometimes there is often a sudden urgent need, which eventually makes us forced to sell the Bitcoin that we have partially. There is nothing wrong with doing that, because there are priorities in our lives. Instead of forcing holding Bitcoin, but their daily needs are not met. If one day we have extra money, we can buy Bitcoin again. So no need to worry, we definitely have another chance to be able to buy Bitcoin. Moreover, the price of Bitcoin is volatile, so there is always a moment when the price of Bitcoin is correcting, that's our chance to buy Bitcoin. As of now the price of Bitcoin has dropped to $46k, but I believe this is only temporary, Bitcoin will recover soon.

Nobody tells you to sell the coins that you have. However when bitcoin goes down and you sell then it means it wasn't for a need. The talk here is not keeping your coins even while having urgent needs, it is about how you should not sell your coins just because it moved from 52k levels to 45k levels.

If you are selling just because the price went down then you are making a big wrong decision that you should not be doing at all. Obviously you should sell when you have emergency, nearly all the profits I made in my crypto life went to paying for hospital bills, for myself (not big deal, mostly dentists because I have genetic tooth problems) and my parents, my wives parents, and my wife has injection (sort of similar to diabetic insulin) and so forth.

Basically I made maybe 10x profit from crypto on all my investments and I had to cash them all out and now I have nearly nothing compared to what I could have, but I also have zero debt as well. I still wouldn't sell right now, would wait and sell later to pay for my debt.

[Fundamentals Of]

The volatility is increasing. It is safer not to play with the price for now. In times like these I would rather just hodl and wait for the better days to come. The risk of trading Bitcoin short term is high but it is significantly lowered to the minimum if you are looking at the long term.

We certainly cannot predict Bitcoin's price tomorrow or the day after it but we are almost assured that years from now the price is definitely higher than today.

We are in pandemic times and this is the hardest time to HODL Bitcoin because of this pandemic I have to sell half of my share to sustain my livelihood, my country is one of the hardest, I'm trying to keep the remaining shares because with all the prediction I just knew Bitcoin will reach 6 digits maybe not this year but definitely next year.

I understand your situation of course. These are difficult times. Jobs are lost, businesses are down, shops and stores are closed, etc. It is completely all right to let go of some of our precious Bitcoin to support our needs. At the end of the day we are stacking Bitcoin so that we have something to use when the day comes. We are not hodling for the sake of hodling. We are hodling for our dear life. Perhaps now is one of those rainy days when Bitcoin could help us a lot. Better days will come soon for sure.

To each his own I guess, of course we really need to take care of ourselves, bring food in the table for our family. But if you have financially plan your self ahead of crypto investments, I doubt that you will have to touch your bitcoin savings because of the pandemic. I'm not saying that I'm good at financial planning, but I'm talking about my experience of being a Bitcoin holder for many years. For the scenario, we are still in the $46,000 give and take, but everything still looks good for us in the last couple of months before the end of the year.

No, I guess it is not a question of financial planning or how good we are at hodling Bitcoin. We must have assumed things are working as they normally do. Of course, we are also acknowledging the fact that despite our positive outlook, there might be unexpected times which call for unexpected responses. But I am sure nobody ever expected that the time would come when people would no longer go out, that businesses would come to a halt, that jobs are to be lost, etc. We know bad days will come. But nobody could have expected the worst. Nobody expected a pandemic and nobody thought it would last for two years.

[asrinur]

The downward trend in Bitcoin prices is still continuing. after touching the level of $ 52,000 is now down to the level of $ 45,000. Bitcoin price correction is inseparable from a massive sell-off in the crypto asset market. the correction that occurs in the current Bitcoin price tends to be temporary. The current correction will make the Bitcoin price stable first considering that the last month Bitcoin has gone up very significantly.

[STT]

Funny thing is we left the uptrend from the July low but then made a new high which also happened early 2020 I remember.   It had formed a downtrend, broke that before finally resolving downwards in some significant way which is where we are now.



We're just crossing the 50 and 200 day averages which are rising, still indicating positive momentum beyond this short term action yet price alone is continuing negatively.   I'd estimate for the moment that we can revise prices at August beginning which would be the sub 40k perhaps 38k or so or the lowest bar on this chart.   Thats just a rough take and it could still be that the first low seen recently is also the bottom price for this month, it has not indicated which yet certainly I think it'd bounce again at that point speculatively.

[michellee]

The downward trend in Bitcoin prices is still continuing. after touching the level of $ 52,000 is now down to the level of $ 45,000. Bitcoin price correction is inseparable from a massive sell-off in the crypto asset market. the correction that occurs in the current Bitcoin price tends to be temporary. The current correction will make the Bitcoin price stable first considering that the last month Bitcoin has gone up very significantly.

Hopefully, the price will not go down lower $43k because if that happens, it could trigger people's panic moment and they can sell bitcoin without thinking that is just a correction. If that really happens, the whales or people who have money will benefit from the situation because they will use the moment to buy many bitcoins and that will be their golden time to buy bitcoin. We already see the bitcoin price stable at $44k-$46k and hopefully, that can sustain this weekend and in the next week, the price will start to increase. Maybe the next week will be a good time for bitcoin to rise and slowly reach the high price.

[decodx]

At the moment the BTC price is trying to break the $ 46,000 level again. A break and hold above the $46,000 level would give Bitcoin some upward movement. On-chain analysis shows that both accumulation addresses and accumulation balances are increasing, indicating a possible bullish move ahead.

[cryptomaniac_xxx]

At the moment the BTC price is trying to break the $ 46,000 level again. A break and hold above the $46,000 level would give Bitcoin some upward movement. On-chain analysis shows that both accumulation addresses and accumulation balances are increasing, indicating a possible bullish move ahead.

I think $48k is the next barrier to see continue bullish momentum, otherwise it will have a tendency to slip down to $43k. It's good to break that $46k, but it will not give confidence still for a upward trend.

It's good that the accumulation and balances are increasing and then bitcoin traders/investors are getting out and saving it to a wallet that they control. But as for the price, $48k should be the next price to break again. I remember that we have like 3x-4x try before we breach that psychological number, so here we are again.

[Naficopa]

At the moment the BTC price is trying to break the $ 46,000 level again. A break and hold above the $46,000 level would give Bitcoin some upward movement. On-chain analysis shows that both accumulation addresses and accumulation balances are increasing, indicating a possible bullish move ahead.

Based on the positive information that is showing up lately and the overall good sentiment in the cryptocurrency market, it can be concluded that the next step will be strong growth. However, as we can see, the chart behaves quite cautiously. In my opinion, this could mean one more big drop in Bitcoin's price, maybe even by about 20-30%. I would very much hate it at this moment, but I am very much afraid that it could happen in a matter of few days.

[buwaytress]

We're just crossing the 50 and 200 day averages which are rising, still indicating positive momentum beyond this short term action yet price alone is continuing negatively.   I'd estimate for the moment that we can revise prices at August beginning which would be the sub 40k perhaps 38k or so or the lowest bar on this chart.   Thats just a rough take and it could still be that the first low seen recently is also the bottom price for this month, it has not indicated which yet certainly I think it'd bounce again at that point speculatively.

Would be sort of a slight let down for me to see sub40k again so soon, not that I ever thought we would be leaving that permanently, just thought it would not be revisited so quickly, especially after that August show of consolidating strength.

Then again, if it results in an extreme bounce, especially with 200MA adding to that, could be enough for persistent growth over the next few weeks and then inertia preventing another retracement beneath 50k. Still plenty of time before final quarter to see all this noise play out.

[crzy]

At the moment the BTC price is trying to break the $ 46,000 level again. A break and hold above the $46,000 level would give Bitcoin some upward movement. On-chain analysis shows that both accumulation addresses and accumulation balances are increasing, indicating a possible bullish move ahead.

We're currently at the price of $45k as of posting, and if the accumulation starts again we can expect for the price to rise again but for now, the price should stabilize and hold into this level or else, we might see any bullish trend again this year because we failed to stay above the resistance. The price is getting more unpredictable, any trend can happen at any time, always know how to act accordingly and yes expect a more up and down with Bitcoin as we try to stay on a good level.

[ethereumhunter]

At the moment the BTC price is trying to break the $ 46,000 level again. A break and hold above the $46,000 level would give Bitcoin some upward movement. On-chain analysis shows that both accumulation addresses and accumulation balances are increasing, indicating a possible bullish move ahead.

I think $48k is the next barrier to see continue bullish momentum, otherwise it will have a tendency to slip down to $43k. It's good to break that $46k, but it will not give confidence still for a upward trend.

It's good that the accumulation and balances are increasing and then bitcoin traders/investors are getting out and saving it to a wallet that they control. But as for the price, $48k should be the next price to break again. I remember that we have like 3x-4x try before we breach that psychological number, so here we are again.

Yes, it is. I feel the same as you because the price seems hard to increase more than $48k and only get down to the lower price. Maybe next week, the price can increase and can break $48k. If that can be break, the chance to break $50k will be wide open and once that can be break, the price can still increase higher. If the price is down to $43k in the next week, that can trigger the price to still go down to the lower price and it could reach $40k again. If that happens, people will not be comfortable holding their bitcoin and will sell instantly.

[cryptomaniac_xxx]

At the moment the BTC price is trying to break the $ 46,000 level again. A break and hold above the $46,000 level would give Bitcoin some upward movement. On-chain analysis shows that both accumulation addresses and accumulation balances are increasing, indicating a possible bullish move ahead.

I think $48k is the next barrier to see continue bullish momentum, otherwise it will have a tendency to slip down to $43k. It's good to break that $46k, but it will not give confidence still for a upward trend.

It's good that the accumulation and balances are increasing and then bitcoin traders/investors are getting out and saving it to a wallet that they control. But as for the price, $48k should be the next price to break again. I remember that we have like 3x-4x try before we breach that psychological number, so here we are again.

Yes, it is. I feel the same as you because the price seems hard to increase more than $48k and only get down to the lower price. Maybe next week, the price can increase and can break $48k. If that can be break, the chance to break $50k will be wide open and once that can be break, the price can still increase higher. If the price is down to $43k in the next week, that can trigger the price to still go down to the lower price and it could reach $40k again. If that happens, people will not be comfortable holding their bitcoin and will sell instantly.

Might take this week to re-take the $48k price position, we did touch it briefly but then again the pattern getting into it then facing a huge resistance again. Now, we are down to $47,100, so hopefully at least this week we can get back to $48k again and see how the market will react again. If it goes down, then we can't do anything, but it we we maintain that $48k levels and become confident along that price then $50k will be the starting price for next month.

[GreatArkansas]

At the moment the BTC price is trying to break the $ 46,000 level again. A break and hold above the $46,000 level would give Bitcoin some upward movement. On-chain analysis shows that both accumulation addresses and accumulation balances are increasing, indicating a possible bullish move ahead.

I think $48k is the next barrier to see continue bullish momentum, otherwise it will have a tendency to slip down to $43k. It's good to break that $46k, but it will not give confidence still for a upward trend.

It's good that the accumulation and balances are increasing and then bitcoin traders/investors are getting out and saving it to a wallet that they control. But as for the price, $48k should be the next price to break again. I remember that we have like 3x-4x try before we breach that psychological number, so here we are again.

Yes, it is. I feel the same as you because the price seems hard to increase more than $48k and only get down to the lower price. Maybe next week, the price can increase and can break $48k. If that can be break, the chance to break $50k will be wide open and once that can be break, the price can still increase higher. If the price is down to $43k in the next week, that can trigger the price to still go down to the lower price and it could reach $40k again. If that happens, people will not be comfortable holding their bitcoin and will sell instantly.

Might take this week to re-take the $48k price position, we did touch it briefly but then again the pattern getting into it then facing a huge resistance again. Now, we are down to $47,100, so hopefully at least this week we can get back to $48k again and see how the market will react again. If it goes down, then we can't do anything, but it we we maintain that $48k levels and become confident along that price then $50k will be the starting price for next month.

Broke below $48,000 was a bearish move for me on Bitcoin for the short term.  I agree with you that if ever Bitcoin will retake above $48,000 and stay for days there, daily close will always be $48,000 weekly too, $50,000 will be easy. But there is a lot to consider here like a monthly candle is fast approaching.
Funding rates are normal for now, which is good side that we may still not see huge dumps from now.

[Jating]

^ It's now trading sideways, a pattern that is familiar with us, last month this is always the case and we close the month with green candles.

However, this month might be different, yes short term could be bearish, but not to the point that we are going down to $43k. We can maintain his phase up until the end of next month, and we are still good. Then wait for October to somewhat bring the bullish sentiments around and then new ATH at the end of the year.

[Alf_m.h]

At the moment the BTC price is trying to break the $ 46,000 level again. A break and hold above the $46,000 level would give Bitcoin some upward movement. On-chain analysis shows that both accumulation addresses and accumulation balances are increasing, indicating a possible bullish move ahead.

I think $48k is the next barrier to see continue bullish momentum, otherwise it will have a tendency to slip down to $43k. It's good to break that $46k, but it will not give confidence still for a upward trend.

It's good that the accumulation and balances are increasing and then bitcoin traders/investors are getting out and saving it to a wallet that they control. But as for the price, $48k should be the next price to break again. I remember that we have like 3x-4x try before we breach that psychological number, so here we are again.

Yes, it is. I feel the same as you because the price seems hard to increase more than $48k and only get down to the lower price. Maybe next week, the price can increase and can break $48k. If that can be break, the chance to break $50k will be wide open and once that can be break, the price can still increase higher. If the price is down to $43k in the next week, that can trigger the price to still go down to the lower price and it could reach $40k again. If that happens, people will not be comfortable holding their bitcoin and will sell instantly.

Might take this week to re-take the $48k price position, we did touch it briefly but then again the pattern getting into it then facing a huge resistance again. Now, we are down to $47,100, so hopefully at least this week we can get back to $48k again and see how the market will react again. If it goes down, then we can't do anything, but it we we maintain that $48k levels and become confident along that price then $50k will be the starting price for next month.

Broke below $48,000 was a bearish move for me on Bitcoin for the short term.  I agree with you that if ever Bitcoin will retake above $48,000 and stay for days there, daily close will always be $48,000 weekly too, $50,000 will be easy. But there is a lot to consider here like a monthly candle is fast approaching.
Funding rates are normal for now, which is good side that we may still not see huge dumps from now.

I even hoped that during the El Salvador effect, he bullran very far and played at that number but in fact it didn't happen, even in the previous direction, when I hoped it would have an effect because it was bought by El Salvador 450 btc, but it didn't happen.

[pooya87]

I even hoped that during the El Salvador effect, he bullran very far and played at that number but in fact it didn't happen, even in the previous direction, when I hoped it would have an effect because it was bought by El Salvador 450 btc, but it didn't happen.

That's just because the market was heavily manipulated because certain people are always afraid of bitcoin's mass adoption such as the recent news. The good news is that market manipulation like these only last a little while before the trend goes back to normal simply because they can't prevent the adoption from happening no matter how much FUD is being spread.

[Yaunfitda]

I even hoped that during the El Salvador effect, he bullran very far and played at that number but in fact it didn't happen, even in the previous direction, when I hoped it would have an effect because it was bought by El Salvador 450 btc, but it didn't happen.

That's just because the market was heavily manipulated because certain people are always afraid of bitcoin's mass adoption such as the recent news. The good news is that market manipulation like these only last a little while before the trend goes back to normal simply because they can't prevent the adoption from happening no matter how much FUD is being spread.

I haven't heard any FUD though, in any case the market is just moving as normal, sideways and then some retest of support/resistance, just like what we are seeing, now at $43k.

Hopefully, in the last stretch of the year, even if there's some kind of FUD and manipulation behind, the price will continue as predicted, a cool 6 digits before the end of the year. And it will only shows that bitcoin is resilient and unstoppable.