Bitcoin resistance and support price

[Slow death]

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.

so you have to be prepared for all the headache you will have every time the price drops a lot and it takes a long time to increase

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.

how do you think people felt when the price was less than $20,000 and then it dropped to $3000? they said the price would never go up, but the price went up to $69000

[Baofeng]

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).

But we just had another spike though again this weekend to $56k and counting up. So maybe this is a good bounce or weak one. But it's the start of the asian market right now so I'm expecting that the price will not go down to $53k-$54k.

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.

Probably in the middle ground again, both sides (sellers and buyers) are waiting for any move from each other. But the month is almost over now, hopefully December will be a different one and it will remain bullish.

[Oasisman]

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?

$60k is too early to sell my friend. Wait for it until it reaches 6 digit figure. Bitcoin is close to hitting that one.
The one thing that most of weak hands and new investors are afraid of is the bearish season, and we haven't experienced that yet after Bitcoin pumped from $15,000 to $60,000+.
Nevertheless, even when Bitcoin experience a worse bearish run (like 2018), there's nothing much to worry because Bitcoin always bounce back stronger. We've witnessed that many times right?

One thing I can say is, it's too early to be thinking about selling this year or early next year. At least hodl till $100,000.

[Shasha80]

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?

$60k is too early to sell my friend. Wait for it until it reaches 6 digit figure. Bitcoin is close to hitting that one.
The one thing that most of weak hands and new investors are afraid of is the bearish season, and we haven't experienced that yet after Bitcoin pumped from $15,000 to $60,000+.
Nevertheless, even when Bitcoin experience a worse bearish run (like 2018), there's nothing much to worry because Bitcoin always bounce back stronger. We've witnessed that many times right?

One thing I can say is, it's too early to be thinking about selling this year or early next year. At least hodl till $100,000.

Don't worry too much about the Bitcoin price drop now, after all, the current price is still high when compared to the previous year's Bitcoin price.
I agree it's too early to think about selling Bitcoin right now, all we have to do now is collect as much Bitcoin as possible. So when Bitcoin goes up
we can make big profits, only weak hands think of selling Bitcoin right now. I, like you, will continue to hold Bitcoin until it reaches its target
price of $100k, no matter if it will be achieved this year or next year. Most importantly the price of $100k must be reached, I think so,
because often Bitcoin always bounces back to a higher price every time the price drops.

[Rabi3]

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.

a lot of people are waiting for that last pump before the end of this year, it is concerning to me because maybe it is the only reason people are holding on to dear God waiting for it and what will happen after that ? after bitcoin stays the same way it is right now around 55k in the last days of the year ? This is pretty concerning to me.

[GreatArkansas]

Seems the $50,000 is the major support on this level. We keep bouncing from that area, that's why I am really confident that we will still not fall to that level until the end of this year. With the recent bounce of Bitcoin, bears just got rekt every time they short the market.
The monthly candle is about to close for this month, I am hoping we will do sideways above $50,000 next month.

[STT]

BTC is still repeating itself, revising prices is not especially negative action.



Its recovered to back within earlier November pricing however it still remains to prove itself as having lost its negative pattern of lower highs and declining lows.   We are back above the weekly average but below the 50 day average, I would probably wait for that measure to become the low once again rather then its present ceiling before concluding we are once again positive appreciating in BTC market  (>60k ish till then caution).           

[Oshosondy]

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 know that the market will be bullish, but my confusion is only in short time, about long time I am specific and the prediction is right for everyone that know bitcoin price will increase, it is sure that bitcoin price will increase in long time but it can be long. I am thinking if this will be the best or not but yesterday price was good, bitcoin increased from $53700 to over $58000 but that does not mean bearish market may not continue during the week, the end of weekend are always bullish than bearish.

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?

Nobody can get if it is a bear trap in a way bitcoin will fall to certain price and some people decide to sell and lose but then bitcoin price start to increase. Even been a trader, I never have that characteristics of selling when I am losing already, most of my holding is still in bitcoin, even having the plan to buy more if the price fall to certain price so I can add to my holdings cheaply.

[buwaytress]

But we just had another spike though again this weekend to $56k and counting up. So maybe this is a good bounce or weak one. But it's the start of the asian market right now so I'm expecting that the price will not go down to $53k-$54k.

Probably in the middle ground again, both sides (sellers and buyers) are waiting for any move from each other. But the month is almost over now, hopefully December will be a different one and it will remain bullish.

Mmhmm. Saw there was even a bounce up above 58k as soon as Beijing/Tokyo markets opened for business (8am +8GMT) but it's since tapered off to retain almost exactly the same price this time Sunday. Not long more to Monday morning for Europe and then today, everyone's expecting the strongest retail numbers globally. Not that it's going to prop Bitcoin markets but can't hurt to have some confidence in regular markets on a Monday.

[Lucius]

I know that the market will be bullish, but my confusion is only in short time...

You messed up with the quote, you are quoting me, and in fact that sentence is part of your post, please edit it.

You have a problem because you don’t understand how the market works and you act like a small fish that doesn’t know which way to go in an attempt to avoid big fish. Unfortunately, if you play in the short run, big fish will catch you in most cases - and the way to avoid that is to hold and sell only what you need at a given time.

Nobody can get if it is a bear trap in a way bitcoin will fall to certain price and some people decide to sell and lose but then bitcoin price start to increase. Even been a trader, I never have that characteristics of selling when I am losing already, most of my holding is still in bitcoin, even having the plan to buy more if the price fall to certain price so I can add to my holdings cheaply.

No one can say for sure, but those who bought a dip yesterday could already profit 5%. You haven't defined what you consider a cheap BTC, but if you're waiting for $30k or a lower price, you need as much as 50% lower prices than the current one - and I don't know what could be the trigger for something like that in the coming months.

[romero121]

The price that fell days back have got recovered. As the price of bitcoin have crossed $58k it'll test the market to cross $60k. If the price of bitcoin stabilize within $60k it would make ath. By the time there is also chances of decline in the market upto $50k based on the market move.

[beerlover]

Having stuck at 57k again shows that bitcoin is not ready for a full on bull run, but it is not ready for a drop neither. I do not know what I could say what could happen but the reality is that we could possibly end up with something that is much higher if we could simply break over the real trouble price. Every time we go up, there is a reason to draw back and that sort of what will happen again if we fail to keep going up.

I get that support price or resistance could be broken, that is why they are there and they should be broken otherwise we would just get stuck at a price and would never move at all, but sometimes it is harder than others, such as right now for example.

[Boov]

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?

That's the best decision you ever made mate, resistance never been taken down as price rapidly recovers towards $57k - $58k lastly and it stabilized. Bearish market hasn't come back yet, lets expect demand to rise for even better value. Only that we have to wait for few more months before all time high takes place.

[South Park]

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?

At the end of the day you can think whatever you want about the direction the market is going to take, but it is too soon to think the bear market has taken hold, the whole month of December is still to come and we know that it can be a very positive month for bitcoin, in fact I would not be surprised if we saw a new ATH during that month as the expectations of traders are through the roof, and this alone could be more than enough to push the price of bitcoin up.

[bots1]

Seeing the sharp decline in bitcoin prices in the last few days, it can be said that Bitcoin has entered a bearish phase trend, although it had rebounded. However, this bearish trend will not last long and I believe a long term recovery in bitcoin price is imminent, although the pace of gains will likely slow in the short term.

[traderethereum]

Seeing the sharp decline in bitcoin prices in the last few days, it can be said that Bitcoin has entered a bearish phase trend, although it had rebounded. However, this bearish trend will not last long and I believe a long term recovery in bitcoin price is imminent, although the pace of gains will likely slow in the short term.

Hopefully, the bearish trend will change into a bullish trend sooner or later but we do not know how long this will be over.
The price now still goes down to $56k and the line seems to continue to go down but hopefully, the next week can be a good time for bitcoin to rise.
Some people can use this situation for their benefit but other people lose their money because of selling their bitcoin because of afraid.
Hopefully, the price will not drop too deep so people do not have too much worry.

[Poker Player]

Hopefully, the bearish trend will change into a bullish trend sooner or later but we do not know how long this will be over.

What is clear is that either the trend changes soon and the price starts to go through the roof, or we will be able to say with certainty that the many predictions we saw this year that gave a minimum of $100K for this year were wrong. In some cases there is already talk that we have reached the top that we are not going to pass.

In 2022 we enter uncharted territory. If the price path were similar to previous cycles, we can't expect much, but with Bitcoin you never know, maybe next year it will give us a considerable increase.

[arufox]

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?

When facing a bearish market condition, it's a good idea not to panic too much. The condition of the bitcoin price correction that has occurred recently is only temporary. Fundamentally, the price of bitcoin is still strong and will increase again. Therefore, always monitor the market trend which is bearish. If we are able to analyze the trend, then you can make a profit even if the market conditions are not good. The key is to stay calm in the face of price swings. With a calm mind, it is not impossible that you will benefit at that time.

[Silberman]

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?

Do not worry too much about what is happening in the market, it is true that the price is not moving as fast as what we saw during the 2017 bull run, but we must understand that right now the market cap is many times higher and this means this bull run has to move in a slower fashion, it is likely it is going to take until 2022 in order to see the true potential of this bull run, so keep holding your coins as if you sell them too son that is something that you may end up regretting.

[uneng]

I don't think we are in a bearish market, because we are constantly reaching close to the ATH every few days, that also matches the resistance level. If it were a bearish market we would have seen a deep crash in bitcoin price with a much lower resistance level than the currently one. Days ago I saw resistance was around 59,000$, then 57,000$ and now 55,000$. That looks good for me and it is a possible signal bitcoin can surprise everyone positively at any moment rising to an inedit ATH. December is a good month for bitcoin, so I'm hopeful bitcoin can make it before the end of the year.