Bitcoin Price Potential to Drop in the $32k Area

[StreakW]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

[Minium1]

https://i.imgur.com/2qBlhMY.png

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

Interesting...I am kinda new to crypto and I want to ask you, how do you draw those things to see the potential price?

[_act_]

This should only be a warning for traders, those that are using high leverage, it is not a warning for holders.

Have you seen analysts with wrong predictions? That what they all are unless their prediction is based on years which we all know to be bull run.

Even if the price fall below $30000, I am only waiting for a time to invest more, but if it does not fall below, I am still good with the bitcoin investment I have.

I have to say this, do not believe in analysts, they are not always right, even if their prediction is correct, not that they are right, the price can go other way.

[Lucius]

All this reminds me that I have already experienced the same thoughts and analyses in the past when Bitcoin was in, say, a quieter phase. It all comes down to the fact that if the price is stable over a long period, should we expect a fall or will something happen that will cause the price to rise? I'm not an expert at saying what's going to happen, but somehow it seems to me that we're not going to go that low, and that the price is holding up pretty well given inflation, war, and the aftermath of the pandemic.

Even if the price fall below $30000, I am only waiting for a time to invest more, but if it does not fall below, I am still good with the bitcoin investment I have

Of course, there are a lot of those who are waiting for a good opportunity to buy cheap, but sometimes the wait turns into eternity because that opportunity never happens. I remember a time when there was a saying "everything under $1000 is super cheap", the same thing was with $10k, and now Bitcoin is super cheap compared to what it will be worth in about 5 years.

[gantez]

You have draw a chart looking scary and real that bitcoin getting to$32k but as it is, it is still called speculation. Speculation is viewed from our independent eyes and not to be like a general and only what is going to happen. In the future it can change and direction moved to another area. Expecting to buy low is also the emotion to make investors think low for price.

[hugeblack]

We are now close to the price of 40 thousand, but it does not seem that the trading momentum is great to break the 45k levels, so we will not witness anything exciting during the past hours.
The latest move could push prices away from the 32k price I mentioned.

As a general rule, the price goes against the trend and if many people think that the price will go for a correction and bad news starts to appear, then there is the perfect opportunity for crazy rises.

[BITCOIN4X]

As a general rule, the price goes against the trend and if many people think that the price will go for a correction and bad news starts to appear, then there is the perfect opportunity for crazy rises.

Somehow it can happen even though we know the current price trend is inversely proportional to the rising market conditions. To reach $45K I think it is difficult to reach now mainly because of the unfavorable trend, but maybe it can happen even when FUD is around.

Now that the price has broken through the $40K level, it might be a while before we actually see anything bigger than that.

[serjent05]

This should only be a warning for traders, those that are using high leverage, it is not a warning for holders.

Or a sign of entry to those who wanted to get into the market.

Have you seen analysts with wrong predictions? That what they all are unless their prediction is based on years which we all know to be bull run.

TA always play their predictions safe.  They always have this pro-con situation to cover more price range but even so, we have seen lots of TA being shamed by Bitcoin Market.

I have to say this, do not believe in analysts, they are not always right, even if their prediction is correct, not that they are right, the price can go other way.

We can use them as references since TA result varies on what method they use.

see this example.  OP's TA is the potential of BTC  going down but the one I linked stated the potential of BTC going up.

[Quidat]

As a general rule, the price goes against the trend and if many people think that the price will go for a correction and bad news starts to appear, then there is the perfect opportunity for crazy rises.

Somehow it can happen even though we know the current price trend is inversely proportional to the rising market conditions. To reach $45K I think it is difficult to reach now mainly because of the unfavorable trend, but maybe it can happen even when FUD is around.

Now that the price has broken through the $40K level, it might be a while before we actually see anything bigger than that.

We do need some positive sentiments or events in the market which would really be a good catalyst for driving the price on reaching 45k once again.Speaking of bottom prices then
every supports could be possibly be reached out or dipped down.Even on the recent price decline on which it is really hard to tell on whats happening in the market.
We've been moving sideways for a while now which it is really hard to determine on which way it would be possibly move on next week or months to come.

[batang_bitcoin]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

It's okay and not really a struggle if it can't go back to $40k that quick. Just get yourselves with these cheap bitcoins if you can because it will normally go back there.
Any price, low or high is of possibility and that's what we've been looking at every time we check the charts, news and every speculation that we're looking at for bitcoin.

[TelolettOm]

If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

Why it should drop to $32k? I don't think it will drop to $32, but $35 is possible. However, the price of Bitcoin is increasing right now, it even goes to $40k. Why do we predict the price to drop to $32k? I am thinking that the price of Bitcoin to have the chance jumping to $45k again after its sideway several months. In the current 2 months, Bitcoin price is around $38k-$40k. If there will be good news about crypto or Bitcoin in the next few weeks or months, I assume the price of Bitcoin may jump to $45k again.

[adaseb]

With what happened today after the fed rate it’s proof that we will range a little while longer while following what the us stock indices are doing.

Been a choppy week for both Bitcoin and stocks however after today’s speech both had a very healthy rally. However I just think we will keep ranging.

I don’t see stocks or Bitcoin going any lower or breaking the ATH within the next 3 months or so. Will be mostly choppy like it’s been for the past few months.

[Ararbermas]

We cannot tell mate because as you can see on that image there's still some support on the $37K area so perhaps there's a high possibility that bitcoin will respect it as tested for how many times since february base on that image.  And tbh with you 32k is too far and it will happen only unless if it broke out the $35k which is the last support level because surely bitcoin will continue to make correction below.

[Fundamentals Of]

The price has actually fell from the $38,000 range for the past few days. Even yesterday itself, the price has touched the $37,000 range but thankfully it has not continued to go down even more. So this might not be true at all. The range should be wider. Because, on the other side, it is also not true that once Bitcoin's price break $39,000, it will create the momentum to go up even further. We have seen Bitcoin breaching $40,000 a number of times in the past weeks and it didn't gain enough momentum. The movement is still generally sideward.

[TravelMug]

The price has actually fell from the $38,000 range for the past few days. Even yesterday itself, the price has touched the $37,000 range but thankfully it has not continued to go down even more. So this might not be true at all. The range should be wider. Because, on the other side, it is also not true that once Bitcoin's price break $39,000, it will create the momentum to go up even further. We have seen Bitcoin breaching $40,000 a number of times in the past weeks and it didn't gain enough momentum. The movement is still generally sideward.

Yes, it has some rally mid week but we are not sure if this can gain momentum as we are going to enter weekends anyway. But for those, they are glad to see the price bouncing back to $39k levels.

But as far as dropping to $32k, I'm will not be surprised at all as we are in a bear market and it can happen in a blink of an eye. And it's better to have this kind of mindset, instead of expectations that the price will go up this year.

[Chato1977]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

Seems like Bitcoin did not continue to fell down? there is a thread created recently about Bitcoin may fall down to 35k but it fails and so as yours cannot be happen because Bitcoin now is climbing back and running to 40k again and here it is ..

https://coinmarketcap.com/currencies/bitcoin/

I believe that it is not the fall that coming but instead it is the recovery is coming near us.

[el kaka22]

We have already seen over 39k for a split second, which is proof enough that when given a chance, we are not really that bad right now in the market, we just need to be more patient. I understand that not many people share the same feeling towards bitcoin as of right now.

This doesn't mean that we should lose hope about it just because we had a bad day yesterday, we should be doing fine and be happy about it. I personally do not feel like we are going to go down to 32k levels, we are not only going to do well, we are probably going to be like 50k or so soon. Because, when the price draws back like this, it does skyrocket later on most of the time.

[Oasisman]

Even if the price fall below $30000, I am only waiting for a time to invest more, but if it does not fall below, I am still good with the bitcoin investment I have

Of course, there are a lot of those who are waiting for a good opportunity to buy cheap, but sometimes the wait turns into eternity because that opportunity never happens. I remember a time when there was a saying "everything under $1000 is super cheap", the same thing was with $10k, and now Bitcoin is super cheap compared to what it will be worth in about 5 years.

And that is where DCA comes into play.
I always believed that this is the most effective investment strategy especially when someone is struggling to find the "perfect" entry point which usually won't happen and will only miss the opportunity of the dip.
The regrets of those people who was in doubt during Btc was priced at $1k or even $10k is unbearable lol.

[Taskford]

Even if the price fall below $30000, I am only waiting for a time to invest more, but if it does not fall below, I am still good with the bitcoin investment I have

Of course, there are a lot of those who are waiting for a good opportunity to buy cheap, but sometimes the wait turns into eternity because that opportunity never happens. I remember a time when there was a saying "everything under $1000 is super cheap", the same thing was with $10k, and now Bitcoin is super cheap compared to what it will be worth in about 5 years.

And that is where DCA comes into play.
I always believed that this is the most effective investment strategy especially when someone is struggling to find the "perfect" entry point which usually won't happen and will only miss the opportunity of the dip.
The regrets of those people who was in doubt during Btc was priced at $1k or even $10k is unbearable lol.

Even if we see bitcoin price soar up or maybe come to the current price which is so big as before still many people will doubt about its stands, because not everyone has calm balls seeing how the market moves in different positions. So maybe for people who doubt to find their best entry points I guess they need to study first and look for better possibilities if they want to enter on bad or good market condition.

[rhomelmabini]

$32k-$30k is still a possibility since that's where the current higher low from the 2021 bull run and I think it's still a good catch. By the way, the image you shared doesn't tell much and can't be called an analysis since it's just the present chart. I think it should have been nice to read the analysis of yours OP, besides not all traders rely on shorter timeframe.