Bitcoin resistance and support price

[Taskford]

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.

Hard to close our eyes especially when the market move the way we don't like but what the best thing to do if we are losing is either to cut loss and buy in the dip. But if we can able to hold then that's good but expect to hold it for many months from now since recovery takes time and fear is still high in the market since no people yet thinking bullish on the market at this point.

[sana54210]

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.

I agree, it was at 47k 3 days ago, reached almost 51k 2 days ago, reached 45k yesterday and now it is back to 47k again. I do not know why there is a big volatility like this, I am hoping that it will not be like that for a long time, hopefully we could end up with something a lot less volatile intra-day if you ask me but if it will end up with the same result like this one then I am fine with it.

Traders do not care about whats going on in the grand scheme of things, they care about the day trading and how much they could make with it. This is why I do not doubt that there will be some sort of changes in the crypto, surely it will have some consequences but in the end we can't just let it stay stable neither, so we need to either make it less volatile, or it is going to have a bad income with these high movements. Lets hope for the best and focus on long term if anything bad happens in daily.

[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.

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.

It's getting more stressful if we monitor the price of Bitcoin in the last few days, because Bitcoin is indeed difficult to rise again above  the price of
$50k. Even Bitcoin is now down to touch the price of $ 46k, luckily now the Bitcoin price is trying to get back up and trying to get back to the $48k
price again. Looks like this December can be said to be a little different from the previous December, which as you said usually Bitcoin is bullish
in December. So I don't expect too much in December this year, I think as long as the Bitcoin price doesn't drop below $45k it's good, because
entering the beginning of the year Bitcoin price can start to be bullish. Indeed, what we can do now is just hold the Bitcoin we have, until
the Bitcoin price actually recovers.

[Oshosondy]

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.

Just that this thread is focusing on bitcoin only, that is why I only make comment about bitcoin only. I do not have much bitcoin, I started late and which to by more to make more profit when the bull market begin again. I only have 70% of my coin in bitcoin while other are for altcoins. So I do both bitcoin and altcoins. Know that I have just little but it is better than nothing. We can invest even just $200 on bitcoin or altcoin, at least we invest.

[Yamifoud]

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.

Just that this thread is focusing on bitcoin only, that is why I only make comment about bitcoin only. I do not have much bitcoin, I started late and which to by more to make more profit when the bull market begin again. I only have 70% of my coin in bitcoin while other are for altcoins. So I do both bitcoin and altcoins. Know that I have just little but it is better than nothing. We can invest even just $200 on bitcoin or altcoin, at least we invest.

Investment is the best thing to do in order to grow our money which mostly just was ignored by the majority. Well, it also matters on the capabilities of our financials, and those who have not will surely decline the opportunity.
If you have $10,000 capital and 70% is for Bitcoin, that really to having huge returns when manage properly. Buying at this moment is somewhat a good idea, think that it surges high back to $70k, I think, you gonna be in celebration.

[Botnake]

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.

Just that this thread is focusing on bitcoin only, that is why I only make comment about bitcoin only. I do not have much bitcoin, I started late and which to by more to make more profit when the bull market begin again. I only have 70% of my coin in bitcoin while other are for altcoins. So I do both bitcoin and altcoins. Know that I have just little but it is better than nothing. We can invest even just $200 on bitcoin or altcoin, at least we invest.

Right. What is important is that we have something to wait for in the future. But looking at the present condition, bitcoin is still experiencing a price decline as well as with altcoins. But even if they keep on dumping, its not a good reason to sell them in panic because you'll definitely end up a huge loss still. With bitcoin currently prices at $49,156, i think the best thing to do right now is to keep hodling it because if bitcoin fail to reach its new ATH this year, probably it will be possible by next year. Bitcoin won't definitely stay dumping, it will definitely recover and skyrocket again.

[Dave1]

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.

Just that this thread is focusing on bitcoin only, that is why I only make comment about bitcoin only. I do not have much bitcoin, I started late and which to by more to make more profit when the bull market begin again. I only have 70% of my coin in bitcoin while other are for altcoins. So I do both bitcoin and altcoins. Know that I have just little but it is better than nothing. We can invest even just $200 on bitcoin or altcoin, at least we invest.

Right. What is important is that we have something to wait for in the future. But looking at the present condition, bitcoin is still experiencing a price decline as well as with altcoins. But even if they keep on dumping, its not a good reason to sell them in panic because you'll definitely end up a huge loss still. With bitcoin currently prices at $49,156, i think the best thing to do right now is to keep hodling it because if bitcoin fail to reach its new ATH this year, probably it will be possible by next year. Bitcoin won't definitely stay dumping, it will definitely recover and skyrocket again.

Well if order of the other market to become healthy, bitcoin should spike first and for sure altcoins will follow as well. But as you have said, we have seen a dumping for over a month now and no sign of stopping as we have a difficult time of getting over the $50k barrier. So the best thing is just to buy and hold and wait for it to somewhat recover and bounce again and who knows, maybe we can see a new all time high next year.

[Tellek Garing]

Without digression let me pen down my Bitcoin prediction since the thread is all about bitcoin price speculations, bit on having to hold on to the 48k resistance price for some days now with bull constantly trying to break out I will be left with no choice than to predict a 50k price benchmark at the end of 2021which is just a few days ahead.

[Pamadar]

Without digression let me pen down my Bitcoin prediction since the thread is all about bitcoin price speculations, bit on having to hold on to the 48k resistance price for some days now with bull constantly trying to break out I will be left with no choice than to predict a 50k price benchmark at the end of 2021which is just a few days ahead.

Very possible that Bitcoin will increase to that level before the year will end.

Even pressures from selling are still huge, there are investors and traders who also keep on buying and holding their
assets, good for long-term if you are aiming to buy and hold.

Newcomers need to re-think before deciding and following any assumptions. They might lose more if they are not
carefully working inside this market.

[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?

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.

While now it has  become increasingly more difficult to have a whole bitcoin in your wallet due to the high price at which bitcoin is being traded at the same time you must not get discouraged, there is still a lot of growth to be had and as long as you have some amount of bitcoin in your wallet then you will do fine, and I think this is especially important now as I do not think the inflation that we are seeing all over the world is going to slowdown at all.

[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.

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.

I think seeing the condition of the very deep decline in the price of bitcoin in the last month, bitcoin is indeed in a bearish phase. However, for now, no one knows when this bearish phase will end and Bitcoin will bounce back. Therefore, in the midst of the current market conditions that are experiencing price declines, it is better not to try trading or investing in the short term, we should not go against the currents in the current market. Wait until market conditions stabilize.

[Silberman]

I think seeing the condition of the very deep decline in the price of bitcoin in the last month, bitcoin is indeed in a bearish phase. However, for now, no one knows when this bearish phase will end and Bitcoin will bounce back. Therefore, in the midst of the current market conditions that are experiencing price declines, it is better not to try trading or investing in the short term, we should not go against the currents in the current market. Wait until market conditions stabilize.

There is no doubt that the price of bitcoin has corrected itself in a significant manner but I think it is too early to determine that what we are experimenting is a bear market already since the time it has passed is too short, we need more time in order to be able to tell that, we also need to consider the external factors that are affecting the price as it is obvious the fear of the new strain of the virus is affecting the current movements of the price, but once it goes away bitcoin could grow significantly again.

[rahmatrf331]

no need to worry about the declining market conditions, the market price correction will end in a few days and will last until the first week of 2022. the next second week the market will have strong support from various investors because the start of the new year will be a new period for bitcoin holders .

[Pamadar]

I think seeing the condition of the very deep decline in the price of bitcoin in the last month, bitcoin is indeed in a bearish phase. However, for now, no one knows when this bearish phase will end and Bitcoin will bounce back. Therefore, in the midst of the current market conditions that are experiencing price declines, it is better not to try trading or investing in the short term, we should not go against the currents in the current market. Wait until market conditions stabilize.

There is no doubt that the price of bitcoin has corrected itself in a significant manner but I think it is too early to determine that what we are experimenting is a bear market already since the time it has passed is too short, we need more time in order to be able to tell that, we also need to consider the external factors that are affecting the price as it is obvious the fear of the new strain of the virus is affecting the current movements of the price, but once it goes away bitcoin could grow significantly again.

We can't conclude anything yet. There are factors that all investors and traders needs to consider.

The current market is trying to bounce, and those who feared for more fall are now victims of those market sways.

Best to reassess everything before you make any movement. The one who considers all grounds is the one who
benefits from this industry. Take time and don't rush things when deciding for your investment.

[bitgolden]

We can't conclude anything yet. There are factors that all investors and traders needs to consider.

The current market is trying to bounce, and those who feared for more fall are now victims of those market sways.

Best to reassess everything before you make any movement. The one who considers all grounds is the one who
benefits from this industry. Take time and don't rush things when deciding for your investment.

I am guessing that the lower prices already got all they wanted and right now we have seen that it had a problem going even lower. Which means that it had to go up, this was known long ago, if you can't go down too much then market will stop and go up in order to keep it moving. That's the thing you need to learn about the market, bitcoin price doesn't stay at around the same price for too long, it does move up and down which means that you will have to see a lot of huge moves right after too long stable times.

We were near the 45k price range and it didn't drop too much so the market said "if I can't keep going lower and lower, that means I need to go higher in order to keep it moving". This is why we are seeing higher price bitcoin these days, doesn't mean it will continue to go up, just means it was not unexpected and it was totally normal.

[STT]

We're back to 2 day average right now, just short term averages.   What matters is we remain within the overall range of the last couple weeks, top end of that range but still contained.   Its fairly important to continue positively that we do hold basic momentum like the weekly and 2 day averages, so far Im not sure if we can break the range upwards over holidays or not

[Dave1]

We're back to 2 day average right now, just short term averages.   What matters is we remain within the overall range of the last couple weeks, top end of that range but still contained.   Its fairly important to continue positively that we do hold basic momentum like the weekly and 2 day averages, so far Im not sure if we can break the range upwards over holidays or not

Right, it's good to be just above the overall range and the average for this week, however, it's going to be Christmas so I'm expecting some sell off still in the next couple of days.

In any case we should be ready for the incoming 2022, remain positive that we will have a break out run that can at least push the price to $60k levels and then see how it goes from there.

[virasog]

We're back to 2 day average right now, just short term averages.   What matters is we remain within the overall range of the last couple weeks, top end of that range but still contained.   Its fairly important to continue positively that we do hold basic momentum like the weekly and 2 day averages, so far Im not sure if we can break the range upwards over holidays or not

Are you talking about two days simple moving average or exponential moving average ?
I belief  that despite the choppy action of Bitcoin price at the moment, it will breakout upwards anytime soon.

[mattujusuruga]

Since the decline in the price of bitcoin in the last few weeks has formed a negative signal pointing to a bearish trend. most likely the price of bitcoin will continue to experience price correction until early next year, if not immediately rise back to the psychological level of $ 60,000. Therefore I expect the price of bitcoin to fall to its lowest level of $40,000.

[rahmatrf331]

Since the decline in the price of bitcoin in the last few weeks has formed a negative signal pointing to a bearish trend. most likely the price of bitcoin will continue to experience price correction until early next year, if not immediately rise back to the psychological level of $ 60,000. Therefore I expect the price of bitcoin to fall to its lowest level of $40,000.

bitcoin price can't go down again to $40k because it was seen at the last closing the lowest price yesterday was at $45k and now it has entered the recovery phase again and has entered the holding price at $51k. it's quite interesting after re-reaching the holding price and most likely bitcoin will re-break at the support point of $55k.