Bitcoin resistance and support price

[STT]

Support does have some meaning but its never absolute or exact.   The whole process of TA is dismissed by many but its useful guide to me personally to gauge strength and how bullish I should be.



Ok so the low here is the trend downwards from the peak.   Staying above that level means I think we should remain positive to neutral in our outlook.   That would be about 48k or above roughly, more obviously the lows of the sell are at around 47k.   52k is momentum of a weekly average, staying above that shows good positive inertia.   
  My general take is neutral for this year, 2022 to develop with greater magnitude.

[uneng]

It is clear that support points do not mean anything. It is clear that we are talking about something that is dangerously fragile whenever we fall, we end up falling all the time and it causes the price to drop under support point without even hesitation. We had a support point recently, we were above 55k and from 55k to 45k we had many support points, what happened with them? Nothing. We broke under them in a few days very easily.

The only silver lining about this situation is that we are talking about resistance points as well, they are just as much fragile and whenever we want to move up, there is nothing that is stopping us there neither and we can increase very easily.

For a while those support levels meant something, but from the moment the market became unstable on, those levels have been broken and now it will take a while until we see new solid support in bitcoin price. At least this kind of interpretation helps us to identify how bitcoin is doing on short run and what its tendencies are. At this moment the market is somehow volatile, although nothing too bad as it was already seen years ago.

Today bitcoin bounced back to 48,000$ and in less than 3 hours later it was already hitting 51,000$ again! That is pretty interesting, but we still need to wait until we can classify a new range of price as support level here.

[Vaculin]

It is clear that support points do not mean anything. It is clear that we are talking about something that is dangerously fragile whenever we fall, we end up falling all the time and it causes the price to drop under support point without even hesitation. We had a support point recently, we were above 55k and from 55k to 45k we had many support points, what happened with them? Nothing. We broke under them in a few days very easily.

The only silver lining about this situation is that we are talking about resistance points as well, they are just as much fragile and whenever we want to move up, there is nothing that is stopping us there neither and we can increase very easily.

For a while those support levels meant something, but from the moment the market became unstable on, those levels have been broken and now it will take a while until we see new solid support in bitcoin price. At least this kind of interpretation helps us to identify how bitcoin is doing on short run and what its tendencies are. At this moment the market is somehow volatile, although nothing too bad as it was already seen years ago.

Today bitcoin bounced back to 48,000$ and in less than 3 hours later it was already hitting 51,000$ again! That is pretty interesting, but we still need to wait until we can classify a new range of price as support level here.

As long as bitcoin is always volatile, then we will always witness such interesting surging of prices from its previous ones. Although the current price is not yet a guarantee that it will continue to rise up, but it will also create chances once bitcoin will be able to find a new strong support level. For now, let's just wait what will be the next target price of bitcoin, either it continues to move upward, or maybe another false hope again once we see its price moving in a downward trend. Better enjoy the ride and never gets panic.

[Wawa2013]

It is clear that support points do not mean anything. It is clear that we are talking about something that is dangerously fragile whenever we fall, we end up falling all the time and it causes the price to drop under support point without even hesitation. We had a support point recently, we were above 55k and from 55k to 45k we had many support points, what happened with them? Nothing. We broke under them in a few days very easily.

The only silver lining about this situation is that we are talking about resistance points as well, they are just as much fragile and whenever we want to move up, there is nothing that is stopping us there neither and we can increase very easily.

For a while those support levels meant something, but from the moment the market became unstable on, those levels have been broken and now it will take a while until we see new solid support in bitcoin price. At least this kind of interpretation helps us to identify how bitcoin is doing on short run and what its tendencies are. At this moment the market is somehow volatile, although nothing too bad as it was already seen years ago.

Today bitcoin bounced back to 48,000$ and in less than 3 hours later it was already hitting 51,000$ again! That is pretty interesting, but we still need to wait until we can classify a new range of price as support level here.

As long as bitcoin is always volatile, then we will always witness such interesting surging of prices from its previous ones. Although the current price is not yet a guarantee that it will continue to rise up, but it will also create chances once bitcoin will be able to find a new strong support level. For now, let's just wait what will be the next target price of bitcoin, either it continues to move upward, or maybe another false hope again once we see its price moving in a downward trend. Better enjoy the ride and never gets panic.

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient
and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell
the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

[Silberman]

The two scenarios are not necessary mutually exclusive, whales are very smart and they know how to take advantage of every single opportunity they get, it is possible they saw the announcement of the new strain of the virus and they remembered what happened more than a year ago in this market and in the traditional markets and they took advantage of the FUD this was creating, making a lot of profits in the process and multiplying their capital in a significant manner in just a few days.

This is most probably what happened. It is quite possible that we are talking about whales manipulating the market in any way they possibly could, after all that is what whales do but we do not have to follow them, we could wait it out and thankfully I have been doing just that.

The clearest reason why it is obvious whales manipulated the market is the simple fact that variant was found days and days before the fall happened, if it was due to that variant for some reason (which shouldn't even matter) then we wouldn't be able to wait that long before we start to fall. So to me it is clear that we are talking about a manipulation here if it reacted that lately.

And I agree, the whales are simply too powerful and once they decide to do something then they can do it as they have the resources to do so, however just because the whales have a lot of money that does not mean they are infallible, to me this was obviously one of their maneuvers to try to earn money from other traders that were using too much leverage, but I think it was not their intention to crash the price that much and now bitcoin is having troubles staying above 50k.

[justdimin]

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

It is not "that" much under 50k, people act as if we reached 45k already or even getting closer to 40k but the reality is that we only dropped a slightly under 50k, which means it is not doing that bad at all if you ask me and will do a lot better in the long run as well. Why? Because whenever the price falls down, there are those who accumulate, whenever it is accumulated that means it can't keep going down even more, so there is always a bottom and when that is reached the price starts to go up a lot.

I believe that we already tested that, and since we managed to go higher that means we are doing fine right now, it should not be all that difficult to see it going up soon.

[Finestream]

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

It is not "that" much under 50k, people act as if we reached 45k already or even getting closer to 40k but the reality is that we only dropped a slightly under 50k, which means it is not doing that bad at all if you ask me and will do a lot better in the long run as well. Why? Because whenever the price falls down, there are those who accumulate, whenever it is accumulated that means it can't keep going down even more, so there is always a bottom and when that is reached the price starts to go up a lot.

I believe that we already tested that, and since we managed to go higher that means we are doing fine right now, it should not be all that difficult to see it going up soon.

Well, let's spread positivity here. Because there's no make sense really if we stay negative the whole time while seeing bitcoin continues to drop its price. Instead, let's even grab this opportunity to accumulate more bitcoin since they are low price this time. Before we knew it, bitcoin will suddenly skyrocket and we'll miss another opportunity again. As bitcoin continue to surprise us especially when december comes, so there are still chances left that we will be seeing bitcoin having its bull run, unless bitcoin continue to drops consistently until december ends.

[rahmatrf331]

the price of bitcoin is difficult to predict whether at the end of December bitcoin will get strong support or have to stay at the current price. but what is certain is that this month's price correction is an annual price correction and many investors close the books for one financial period. the price correction will end when a new leaf is reopened in the first quarter of 2022.

[asrinur]

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 the market is in a bearish phase as it is today, you can short sell to make a profit or to protect your asset from a weakening price. however, short selling in the futures market certainly carries a very high risk. So, technical analysis is needed and precise to project where the bitcoin price will move in the future.

[Wawa2013]

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

It is not "that" much under 50k, people act as if we reached 45k already or even getting closer to 40k but the reality is that we only dropped a slightly under 50k, which means it is not doing that bad at all if you ask me and will do a lot better in the long run as well. Why? Because whenever the price falls down, there are those who accumulate, whenever it is accumulated that means it can't keep going down even more, so there is always a bottom and when that is reached the price starts to go up a lot.

I believe that we already tested that, and since we managed to go higher that means we are doing fine right now, it should not be all that difficult to see it going up soon.

I also hope Bitcoin doesn't drop to $45k or even close to $40k, because if that happens there will be a panic sell. Hopefully now more and
more people are buying Bitcoin, so the Bitcoin price can go up again. But I did not expect the price of Bitcoin to still struggle to recover
in the middle of December. Even now the price of Bitcoin is still at $48k, and there is no sign of Bitcoin going up in the near future.
Everything will be fine as long as we don't panic and can think positively, I still really hope that near the end of this year the price of Bitcoin
does not fall any further.

[Pamadar]

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 the market is in a bearish phase as it is today, you can short sell to make a profit or to protect your asset from a weakening price. however, short selling in the futures market certainly carries a very high risk. So, technical analysis is needed and precise to project where the bitcoin price will move in the future.

It needs a deeper understanding with the current market,

if you will do some short trade make sure that you are willing to let go and risk your investment, some of those experienced traders are also working with different strategy, they are good in anticipating and use it as good advantage when dealing inside the exchange.

Adjusting if the market is not favoring your position is very important, having different system to continue working even the bearish condition still ongoing.

[Jating]

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

It is not "that" much under 50k, people act as if we reached 45k already or even getting closer to 40k but the reality is that we only dropped a slightly under 50k, which means it is not doing that bad at all if you ask me and will do a lot better in the long run as well. Why? Because whenever the price falls down, there are those who accumulate, whenever it is accumulated that means it can't keep going down even more, so there is always a bottom and when that is reached the price starts to go up a lot.

I believe that we already tested that, and since we managed to go higher that means we are doing fine right now, it should not be all that difficult to see it going up soon.

I also hope Bitcoin doesn't drop to $45k or even close to $40k, because if that happens there will be a panic sell. Hopefully now more and
more people are buying Bitcoin, so the Bitcoin price can go up again. But I did not expect the price of Bitcoin to still struggle to recover
in the middle of December. Even now the price of Bitcoin is still at $48k, and there is no sign of Bitcoin going up in the near future.
Everything will be fine as long as we don't panic and can think positively, I still really hope that near the end of this year the price of Bitcoin
does not fall any further.

Currently, the support around $48k is strong, so we may be good for now or up to this weekend at least.

We have a good run to $50k but it was not sustained and obviously, sell-off happens to bring the price down again.

Maybe we could see some good signs this coming Monday that we can still go past $50k at least before the end of the year. Usually December is very bullish and I do think positively that we can make it more exciting in the last 2-3 weeks before we closes this year.

[lixer]

Currently, the support around $48k is strong, so we may be good for now or up to this weekend at least.

We have a good run to $50k but it was not sustained and obviously, sell-off happens to bring the price down again.

Maybe we could see some good signs this coming Monday that we can still go past $50k at least before the end of the year. Usually December is very bullish and I do think positively that we can make it more exciting in the last 2-3 weeks before we closes this year.

Sell pressure whenever we reach a higher ground is the main problem, and the longer we stay around here the more people end up buying here as well, which means that whenever we go to a higher price there are so many people who are willing to sell for a profit at those prices. So, it is a very risky business and I am not entirely sure if I want to have something like that for the long term. Hopefully we will do better, it is not going to be easy and I feel like it will happen at least a few more times, but eventually there will be a big hype that will break this cycle.

Hopefully that will happen during an early stage of 2022 and not at a later date like after the summer. If we keep on failing until summer then we have a tough road ahead of us because summers are usually not the best time, so spring needs to be great or we need to wait a whole year.

[cryptomaniac_xxx]

^ We need that big hype, or what we call FOMO to break the current cycle.

So far the price hops above $49k but have difficulty breaking the resistance of $50k. This pattern has been happening several times already and hopefully this week we can go over and reach at least $53k because that's where the TA is pointing to be next resistance level and $50k becoming now the support. The question is where will be the FOMO coming from this week?

[Raflesia]

^ We need that big hype, or what we call FOMO to break the current cycle.

So far the price hops above $49k but have difficulty breaking the resistance of $50k. This pattern has been happening several times already and hopefully this week we can go over and reach at least $53k because that's where the TA is pointing to be next resistance level and $50k becoming now the support. The question is where will be the FOMO coming from this week?

I will follow the direction of the pattern because for me this will continue to repeat the same pattern, buy at $47k and sell at $50k this will not be long resistance and bitcoin again at the same price $47k try to see how many times bitcoin has become a pattern like this?

It's possible that the $50k resistance won't last long and it's still not a good change but FOMO will definitely come from anywhere even some people get caught up in this, the important thing is my analysis bitcoin will continue to follow the same pattern.

[Silberman]

^ We need that big hype, or what we call FOMO to break the current cycle.

So far the price hops above $49k but have difficulty breaking the resistance of $50k. This pattern has been happening several times already and hopefully this week we can go over and reach at least $53k because that's where the TA is pointing to be next resistance level and $50k becoming now the support. The question is where will be the FOMO coming from this week?

While FOMO can produce the effects that you mention at the same time this is not a recipe for long term success, it would allow bitcoin to grow during the short term and that will be all, it is better that we wait for more fundamental news to come that make bitcoin better on the eyes of investors and help it grow slowly over the long term, however another way for bitcoin to grow is if FUD impacted other markets and out of fear people began to invest in bitcoin as a way to protect their wealth from the crash of those markets.

[Ziskinberg]

^ We need that big hype, or what we call FOMO to break the current cycle.

So far the price hops above $49k but have difficulty breaking the resistance of $50k. This pattern has been happening several times already and hopefully this week we can go over and reach at least $53k because that's where the TA is pointing to be next resistance level and $50k becoming now the support. The question is where will be the FOMO coming from this week?

While FOMO can produce the effects that you mention at the same time this is not a recipe for long term success, it would allow bitcoin to grow during the short term and that will be all, it is better that we wait for more fundamental news to come that make bitcoin better on the eyes of investors and help it grow slowly over the long term, however another way for bitcoin to grow is if FUD impacted other markets and out of fear people began to invest in bitcoin as a way to protect their wealth from the crash of those markets.

We can't stop doubtful people from getting into panic once they heard bad news against crypto. FUD and FOMO are things that usually affect the market trend, it certainly fueling up negatively. I can imagine myself being in this situation before but to see how Bitcoin recover from the dip, it definitely changes my mindset. Bitcoin price now is currently below $50k, maybe as we end this year in this position but I was not thinking that it goes down below $40k.
These Christmas holidays keep the market demand to stay low as the majority are possibly not focusing on the trades but on the family bonding and celebrations.

[STT]

Here is a good bullish take on BTC price action across this year.   Its definitely possible we can bounce well from here, I just personally think this is a story for 2022 not the tail end of 2021 where we already saw so much happen saturating the order books with old volume to sell from prior attempts, this will process eventually just not in a single month.   Time will heal the selling and negative will resolve to be a future positive imo

[AliMan]

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?

I wish I was like you having bitcoins at your wallet mate, unfortunately all of them is dumped during the time it was cheap. Meanwhile, I only enjoyed the companion of altcoins specially the small value ones, I know someday it will provide us better future. Let's not rush, greatness of time will come and even if bitcoin support kepts raging over I believed all coins following the journey will also become abundant.

[btc78]

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?

The market shows more volatility for the last 3 days , it is growing a little then dumping at the same time after  https://coinmarketcap.com/currencies/bitcoin/ now we can see that it is unpredictable and only the strong hands can achieve the profit of Holding.
to those weak hands try to close your eyes for a while so you will not be triggered to sell out because you'll miss the great pump before the year ends.
but given that the market will continue fall yet this is a great advantage for the long term holder to purchase more and try to add their bags with much more bitcoin for the next 5 years.