Bitcoin resistance and support price

[Oshosondy]

I am not ready to sell my bitcoin because I know its price will increase back, I do not mind if it will take time but I know it will increase back. But recently the price of bitcoin has been decreasing, before it was at a resistance of $60000 but now it is at a resistance of $55000. I am thinking bitcoin price may never increase for now back to above $60000. The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

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[Reid]

Could be. You are in panic and you might want to control the decision you will make from now on.
Calm down a bit, think back. Use the history of Bitcoin and never fall for FUD that are being spread around.
Are you a short-term holder or a long one? Because the price may flow back and forth in this ber months of the year which had been normal in the market of Bitcoin. Remember, the expectation for a December madness for the lightning to strike back is still going on.

[cryptomaniac_xxx]

I am not ready to sell my bitcoin because I know its price will increase back, I do not mind if it will take time but I know it will increase back. But recently the price of bitcoin has been decreasing, before it was at a resistance of $60000 but now it is at a resistance of $55000. I am thinking bitcoin price may never increase for now back to above $60000. The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

Why not wait till the end of the year and see how it goes? If this is a repeat of 2017 then maybe we will still have a good increased next month and after that we may talk about the bearish trend?

So far we've just reached almost $70K, and this price is still far from the bubble that we are expecting. We should remain calm at his point, still we have a full month to see how the price is going to move, but hopefully we can see a bullish trend still.

[GeorgeJohn]

Right now it seems that the price of bitcoin is approximately fifty five thousand (55k), but the current situation is fifty four thousand plus (54k) the movement is going backwards and forwards and never go above sixty thousand range. But i know vividly that bitcoin will be above sixty thousand (60k) within the remaining days or approximately early 2022, so in the aspect of speeding up to sell your bitcoin, everyone have target to sell a coin but i will advice not be in rush to sell, because the more bitcoin stays in your wallet the more it add more values.

[maydna]

So you just need to hold your bitcoin tight and not panic because I guess this situation can continue without knowing when it will be over. Perhaps, the price will not go above $60,000 shortly, but it will increase above $60,000 someday, even the price will hit the new ATH. Hopefully, it is not the beginning of the bearish market, but we can not do anything except still hold our coins.

[LogitechMouse]

The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

Too early to tell since we are above that price as of now.
TBH, I'm thinking of the 2017-2018 scenario and it might happen today as well so if it will happen then we might see the market turning bearish at least at the start of 2022. Well, many will not like it to happen but... I'm thinking that it might happen.

Either way, I think being patient and calm is the only thing that we can do right now. Wait until the end of the year or possible until the first month of 2022. Make some plans in advance . I'm also thinking of taking some profits at the end of the year or possible 1st quarter of 2022.

[UmerIdrees]

I am not ready to sell my bitcoin because I know its price will increase back, I do not mind if it will take time but I know it will increase back. But recently the price of bitcoin has been decreasing, before it was at a resistance of $60000 but now it is at a resistance of $55000. I am thinking bitcoin price may never increase for now back to above $60000. The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

Bitcoin has a very strong support between 52-53K and it should hold this support. In case this support is broken we may see below 50K bitcoin market for considerable amount of time.
December is the month for bull run, i doubt if it can happen this year. i think we may see a real bull run in first quarter 2022.

[dimonstration]

Don’t pressure yourself too much when you’re goal is to hold longer. We all know that the price can bounce back in time we not sure yet, if we have extra cash as well emergency funds and other source of income then just holding your bitcoin will works well. Bitcoin already experience alot of situation from dip to rise , from banning as well on pandemic yet it was able to set new record every now and then. Trust your instinct or better balance it. Hold some and withdrew the half to lessen the fear.

[Furious 7]

You are confident in what you hold and absolutely sure that bitcoin will definitely return to the price range of $60k or maybe above $70k because we don't know when this will happen, but for sure I will wait until early 2022 where many people think positively about bitcoin, so I will continue to hold bitcoin until it recovers.
Even though the estimate is now down but I don't lose bitcoin if the resistance reaches $50k then I'm ready to go back and buy it again.
I'm more confident in myself.

[Johnyz]

The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

There’s a possibility that we enter into a bearish market especially if we broke down below the support level but don’t panic you can still hold and be more patience to wait for the next bull trend. There’s no assurance on every trend, always know what to do next and you can either cut loss or stay hold that’s you choice anyway.

[adaseb]

There is no support at $50K, it’s just a nice psychological number and most likely won’t mean much. It’ll either find support right above or right below.

We got some support at $53k which looks like it might hit in a few hours and more at $48K area. Both were previously resistance areas. Currently Bitcoin looks very weak and I think it will break the $53K because bounces are very weak.

[Oshosondy]

Bitcoin has a very strong support between 52-53K and it should hold this support. In case this support is broken we may see below 50K bitcoin market for considerable amount of time.

Bitcoin continues to drop drastically, now just dropped to $53500 today like 45 minutes ago, a price it has never dropped to since when it reach ATH, maybe the bear market may continue

December is the month for bull run, i doubt if it can happen this year. i think we may see a real bull run in first quarter 2022.

I will say itf depends, there are some months bitcoin price increase in December and there are some times the result is decrease, you can see how December price has been.

[davis196]

I am not ready to sell my bitcoin because I know its price will increase back, I do not mind if it will take time but I know it will increase back. But recently the price of bitcoin has been decreasing, before it was at a resistance of $60000 but now it is at a resistance of $55000. I am thinking bitcoin price may never increase for now back to above $60000. The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

You think the price will increase back to 60K or you think that the price will never increase back to 60K?
Your post sounds confusing.Are you panicking or something?A 10% price drop is no reason for panic.
I don't think that this is the beginning of a bearish market.It's more like a short term market shock,caused by negative news about Covid,combined with the lack of bullish support to push the price up.When there's no bullish support(lack of enough buy orders on exchanges) any selling pressure(it doesn't matter how small it is) leads to a price drop.There was a wave of automatic stop loss orders,which leads to increased selling of BTC.
BTC futures also have a small role in dropping the BTC price.
 

[palle11]

I see Op like expressing regret at the moment for not selling the little Satoshi he has in his wallet before the drop and that is giving concern not that he/she doesn't know that price will bounce back above $60k and more maybe within this year or next.

My advise to anybody caught in this season of unprepared or expected drop is to see their hodling as long time investment and with that they won't bother themselves on price by constantly checking on their wallet.

Another advise is that they may not see a huge bear market like in 2018 to 2020, times are different now.

[Lucius]

I am not ready to sell my bitcoin because I know its price will increase back, I do not mind if it will take time but I know it will increase back. But recently the price of bitcoin has been decreasing, before it was at a resistance of $60000 but now it is at a resistance of $55000. I am thinking bitcoin price may never increase for now back to above $60000.

You are in deep doubt and in conflict with yourself, because first, you believe that the price will increase again, and then you think that it will never increase over $60k? At some point you have to decide what you really think and what move you will make, no one will do it for you.

The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

I would agree with the previous comments that support does not exist on some round numbers that everyone takes as an example, but that we must accept that at any time the price can go 5-10% in any direction. Bitcoin has shown countless times that it depends on other markets and shares their fate in a greater or lesser percentage.

All what is happening in the last month gives the right to those who talk about the bear market all year round, but what if it's just another bear trap before the new pump?

[buwaytress]

There is no support at $50K, it’s just a nice psychological number and most likely won’t mean much. It’ll either find support right above or right below.

We got some support at $53k which looks like it might hit in a few hours and more at $48K area. Both were previously resistance areas. Currently Bitcoin looks very weak and I think it will break the $53K because bounces are very weak.

Yup, judging from this week and last, that support's firmly at 53k, not even at 55k as the next natural psychological number would be. The bounces have been weak yes, but also not as sharp (which suggests to me there's really people patiently waiting for larger dips to shovel in all their buys).

Haven't really taken a look at orderbooks lately but I suspect everyone on both sides are hiding their cards til the November funk's over.

[Oceat]

I think there's no certain support at this current price level since I am still bullish so Bitcoin would bounce back again above $60k. In the meantime, let's just enjoy this dip and buy more since every dip is an opportunity and besides, it's not yet bear run it's just a bear trap the way I see it. The only resistance I want Bitcoin to break is the $70k but not it's going to break the $60k first before going to bed break another so that Bitcoin could attain a new ATH price this year. Mid-December should decide whether it's a bear or bull before the year ends.

[adaseb]

You know how technical analysis is exactly. There can be support at $53K, or at $50K or at $48K and its also very possible that none of those supports can hold. Right now I am looking at funding data and it seems people are buying every dip when the bounces are VERY weak and I see a cascading liquidation on the near horizon. If you want to long you can long but you need confirmation first somehow.

One good confirmation is if the funding starts to turn negative and price fails to go lower. This happened twice in the past year. Once when we were at $30K and another time when we were at $40K. If you bought then you would of had an excellent R/R and nobody predicted that those areas would be the bottom.

When we were at $30K, people were calling for $20K as the bottom and it never happened.

[Ararbermas]

I am not ready to sell my bitcoin because I know its price will increase back, I do not mind if it will take time but I know it will increase back. But recently the price of bitcoin has been decreasing, before it was at a resistance of $60000 but now it is at a resistance of $55000. I am thinking bitcoin price may never increase for now back to above $60000. The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

yup probably bitcoin had strong support right now since El Salvador bought at the deep as well and for sure there's a bunch of investors accumulating after reading that news, because obviously bitcoin suddenly formed a consolidation at the support level. So if it breaks out above then bitcoin will not going down for long time, just keep holding mate and wait for more results..

[sana54210]

I see Op like expressing regret at the moment for not selling the little Satoshi he has in his wallet before the drop and that is giving concern not that he/she doesn't know that price will bounce back above $60k and more maybe within this year or next.

My advise to anybody caught in this season of unprepared or expected drop is to see their hodling as long time investment and with that they won't bother themselves on price by constantly checking on their wallet.

Another advise is that they may not see a huge bear market like in 2018 to 2020, times are different now.

Not only "wait until it goes back up" but honestly it is clear that we could also have a situation where we could buy more and still profit a lot. I am not saying that we won't be going down anymore or just go up straight so high, all I am saying is that "one day" that will happen so why lose time waiting on better and better deals? When you sell bitcoin at 1 million dollars, do you really believe that buying at 52k or 42k would make so much difference for you? I mean yes financially there will be difference but you will be rich all the same.

So, I would say that it is a lot easier if we could end up with something better by buying right away instead of waiting. I am still throwing some money into it every single month, I do not even look at what the price is and buy accordingly, I buy it as soon as I have money to buy and that's it, nothing more.