Bitcoin resistance and support price

[ShowOff]

bitcoin price can't go down again to $40k because it was seen at the last closing the lowest price yesterday was at $45k

Maybe not, I think everything is still possible even though the current price has gone up past $50K. If you are a trader, then I think you should not be too optimistic about the price without trying to consider the volatility risk that is still possible with bitcoin. This is a free trade where price can quickly change even if only influenced by a bit of bad news.

It is okay if you are a long term holder because you need to have high optimism about the potential price that bitcoin will reach in the future. I think optimism would be good to keep your emotion in check during a correction and perhaps you are advised not to worry too much about short-term volatility as is the case at the moment.

[FanEagle]

bitcoin price can't go down again to $40k because it was seen at the last closing the lowest price yesterday was at $45k

Maybe not, I think everything is still possible even though the current price has gone up past $50K.

As expected bitcoin market started to turn into bullish around festival times which may lead the market toward a new ATH by the times of new year. Speculators are eyeing about the closing prices of this year because that must be a big concern on deciding about the overall trend of 2022 but as of now we can be sure about continuation of bullish trend for few more months which must be a very big relief for many long term holders.

I must say, these days even long term holders are too concerned about support and resistance levels as swing trading and buying at dips for better DCA kind of approaches are being followed for the reason of maximizing the bitcoin stash. As of now, most bitcoiners might be looking at next resistance levels which may be around $58k levels and if we are lucky then we may break that before end of this year to have better open price for 2022.

[cryptomaniac_xxx]

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.

On the contrary, I think there is not enough momentum is not run, yes we have some uptrend to above $50k, but that's it, no more after that, volume is back to the normal slope.

So there's no break out and we might trade sideways again till New year and maybe we will see some push to at last $51k-$52k, if investors wanted to have a good end of the year price movement and a green candle.

[Woodie]

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?

in trading people use support and resistance but others tend to use order blocks which are either bullish or bearish in nature and seeing how price has been behaving of late  its safe to say that price has moved into the bullish order block which means we should be seeing a pullish to the upside away from the  $50000 support zone and maybe we should see 70k come next near.

[STT]

Good progress so far this week, its not yet tested by full volume from what I can see caution is still advised but appears it can get to 54k before troubled by anything larger.



54k coincides with the 50 day average also, thats probably a good test for strength to this recovery.

[Fredomago]

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?

in trading people use support and resistance but others tend to use order blocks which are either bullish or bearish in nature and seeing how price has been behaving of late  its safe to say that price has moved into the bullish order block which means we should be seeing a pullish to the upside away from the  $50000 support zone and maybe we should see 70k come next near.

Everything can happen. We are currently having a good market movement and if this pullover will push and gain strong support, we might be seeing $55k before this year may end. Though nothing is certain the market is influenced by both weak and strong holders, if we see more holders the price may continue to go up, but if there are more sell pressure and less buy demands.

The market might struggle in the beginning of 2022, but being positive will help you to keep buying
while you still have good spare to invest future still showing great with this progressive industry.

[STT]

It has turned somewhat negative but only within prior range which is nothing to note just yet only keep a cautious stance.    We are pushing past the 200 day average some but my basic take is we remain within this area until volume occurs to push us out of this range.
   Target downside is about 40k which is the September low, I think we could recover from there and in that rebound better able to judge direction medium term..  I dont think this occurs this month

[Oshosondy]

The market might struggle in the beginning of 2022, but being positive will help you to keep buying
while you still have good spare to invest future still showing great with this progressive industry.

Yes your are right, all we need to do is to be positive. The market later changed and moving in the bear direction which makes bitcoin to drop from $515000 to a price below $46000. I do not know if the bear will continue but it can become significant if it holds for long and lead to a support at $40000 to $42000. But today is 30th of December, I believe there can be bull market direction as we enter new year which will follow bear direction that is occuring now. But nonetheless, you are right, all we needed to do is hold, the market should be in bull direction later, I am thinking it will be like that in next year in January which we are about to enter.

[Rimueng]

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?

Just because the price has decreased from the previous ATH level, I don't think we can say that it is currently entering a bear market phase. If you are a trader, you should be able to distinguish between a temporary price drop and a bear market. Therefore I think the current price decline is only temporary and a price recovery is imminent.

[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.

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.

If you refer to the price chart for the last month, the bitcoin price has not shown any significant signs of increasing. it can be seen that the current volume of price movement has not yet given any sign of accumulation or a possible reversal to bullish and if the $42k support area breaks down, it is very likely that the price will go to the $39k area. Therefore, for now I am still waiting and watching because the price movement is still unclear and the trading volume is not yet supported to enter the accumulation phase or a possible reversal to bullish.

[Fredomago]

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.

If you refer to the price chart for the last month, the bitcoin price has not shown any significant signs of increasing. it can be seen that the current volume of price movement has not yet given any sign of accumulation or a possible reversal to bullish and if the $42k support area breaks down, it is very likely that the price will go to the $39k area. Therefore, for now I am still waiting and watching because the price movement is still unclear and the trading volume is not yet supported to enter the accumulation phase or a possible reversal to bullish.

It's better to have extra fund aside from your current investment, watching the market dipping down also serve as a good opportunity, we can't tell for now if what would be the next omentum after breaking the $45K barrier, same with what you have said, it can fall for more from this current value, seems that the bear is much stronger than the bull, though it can turn back.

Knowing the nature of this investment, we can't say whether the market will be good or continue to dip down..

[nurilham]

Just because the price has decreased from the previous ATH level, I don't think we can say that it is currently entering a bear market phase.

People who believe it as the sign of the beginning of bearish market isn't totally wrong. BTC price has decreased very significant and it already happened for several months. In this matter, it is normal if people assumed we are probably entering the beginning phase of bearish market. This time, only a few people who still believe that BTC to achieve $100k as predicted before. Most of them feel scary to see the market trend and starting to sell any coins in their wallets. This action actually support more the bearish phase and we may be more away leaving the bullish phase.

[STT]

Not quite a higher low seen but price action is challenging the moving averages that might mark momentum to the downside.  The beginnings of a future positive is possible speculation.    If we break this area and establish it as a low then it begins to move upwards from then, if nothing else short positions must close and buy back into BTC.
  Look for 42k as a low on 4hr bars is fair marker to progress either way.

[Mpamaegbu]

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...

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.

Well, I'm imagining how OP will feel right now seeing that price is dipping more. It just touched a strong support at $40,464 yesterday and bounced off it in what looks like a retracement. Let's be hopeful that it will begin to recover from there. Otherwise, if it breaks that level and closes below it on the Daily candle, it may likely dip to the $30k region. Even when I've come to classify Bitcoin as a phoenix that it's, I still maintain and know that its dip can be heartbreaking. I hope OP understands this too and not get hypertensive whenever there's a Bitcoin dip.

[StreakW]

I think the bitcoin market is already showing signs of a bearish trend. The decline in the price of bitcoin in recent weeks has formed a negative signal pointing to a bearish trend. The big correction in the price of bitcoin is still continuing. Therefore, if it doesn't rise back to the psychological level of $50k soon, then it is very likely that the price of Bitcoin will fall to its lowest level of $40k.

[Ngemmeng]

I think the bitcoin market is already showing signs of a bearish trend. The decline in the price of bitcoin in recent weeks has formed a negative signal pointing to a bearish trend. The big correction in the price of bitcoin is still continuing. Therefore, if it doesn't rise back to the psychological level of $50k soon, then it is very likely that the price of Bitcoin will fall to its lowest level of $40k.

Actually the signs of this trend bearish  have occurred in November 2021, but most people only think that the price decline that occurs is only temporary and bitcoin prices will recover soon. but what is happening now is that bitcoin has really entered a bearish phase and sharp price declines are still common and no one knows when this bearish phase will end. In my opinion in the next few weeks it is very likely that the price of bitcoin will drop below $40k because so far there is no sign of the bear market ending.

[Tellek Garing]

We are beginning to have some green lineup in the Bitcoin chart as the price stayed @43,000 for over 24 hours this indicates a strong bull resistance and if the market demands continue just like last week then we will break the $50k region, I will keep holding my Bitcoin since am not a trader but a holder for long term goals.

[Japinat]

We are beginning to have some green lineup in the Bitcoin chart as the price stayed @43,000 for over 24 hours this indicates a strong bull resistance and if the market demands continue just like last week then we will break the $50k region, I will keep holding my Bitcoin since am not a trader but a holder for long term goals.

Bitcoin has touched $44k now, it's a good sign that the market will start to be bullish again. This may not be a confirmation yet that it's bullish but at least it has recovered after a big dump that we experience in the past weeks. Keep holding as we never know if it's just a bull trap, but even if it is, a bull run is still inevitable and it might come sooner than we expected.

[gabbie2010]

We are beginning to have some green lineup in the Bitcoin chart as the price stayed @43,000 for over 24 hours this indicates a strong bull resistance and if the market demands continue just like last week then we will break the $50k region, I will keep holding my Bitcoin since am not a trader but a holder for long term goals.

Bitcoin has touched $44k now, it's a good sign that the market will start to be bullish again. This may not be a confirmation yet that it's bullish but at least it has recovered after a big dump that we experience in the past weeks. Keep holding as we never know if it's just a bull trap, but even if it is, a bull run is still inevitable and it might come sooner than we expected.

It's very obvious that bitcoin market sentiment had changed to bullish after a long bearish run, the recent price action doesn't look like a bull trap, the price had broken a resistance and retrace to back to turn resistance to support an indication of bullish sentiment, the price is presently moving to $45K after breaking the resistance at $43K, the next major support is at $50K hopefully the present bullish sentiment is sustained for a long time so that hodlers can have sign of relief, Infact the price volatility and momentum was very high at the moment.

[tygeade]

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?

It looks what have you predicted above are all right . starting from the decline of btc and the price did not go back to its ATH up to the continuous decline that it last until January this year but it was now February and the price starting to recover again. Thanks for having a patience but a little more of it and your soon going to be rewarded big.

In case you feel un-motivated to hodl any longer, just think of this: the price was now at 40k level and selling it on this range is unacceptable and if you want to sell you could have done that last year where price resides at 50k range. The profit that you can get last time are better than the profit that your going to get today.