Bitcoin to 30k Range again

[Fundamentals Of]

$30,000 is too high before the selling continues. For the past days it seems the selling resumes as soon as the price bounces back a little, to even as low as $21,000 or $22,000. This doesn't look good at all. It seems the sellers cannot anymore wait for the $25,000 or $30,000 levels to be reached before they will continue with their thing. Does this mean Bitcoin's price still has a bigger room to fall? In any case this is indeed a long term game. And I'm in.

Does it remind you of something from the recent past? The same thing happened when we slipped from $40k to $30k and then stayed there for a while - ranging from $28k to $32k. It is now possible that $22k is the upper limit from which we will repeatedly decline to $20k, and if it lasts too long, we will probably see another drop - because a stable price is not something that characterizes Bitcoin.

In the short term, things don't look good, but for those who want to buy cheap and know that things like this have to happen sooner or later, periods like this shouldn't be a problem, but an opportunity to grab extra sats.

It does. And it doesn't make me feel good at all. That $30,000 was a long battle. The price rose several times beyond that but it also lost hold of that several times. But whenever there was a little increase beyond that, it would almost immediately be followed with a rejection. This is exactly what's happening with $20,000 right now. Again, this doesn't make me feel good at all. But although this isn't what we really want to happen, the good thing is that it's also an opportunity. There might never be something like this in the near future.

[1715178559]

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[onecall123]

This is just a short term speculation, it is possible that if bitcoin price rise to $28000 or $30000, there could still be selling pressure at that point which could plummet the price down back to $20000 or below. But this period will favour buyers that have long term ambition to hold, there can be volatility within certain range, but all-time-high would not likely take more than 3 years from now.

Note that you are talking about a 50% increase, which in the current bear market situation is very high. I don't deny that such a rise could happen smoothly, within a few weeks or even months, but so far I don't see the reasons for that. Unless the bear market ends and the bull run returns.

The same thing I thought. The trend line needs to be broken to determine if it has been broken. That definitely feels like it. I am more bullish when I hear any positive news. However, I still believe this is a bear market rally. There is no way for us to tell if it will work that way, but we can hope.

[dragonvslinux]

This is just a short term speculation, it is possible that if bitcoin price rise to $28000 or $30000, there could still be selling pressure at that point which could plummet the price down back to $20000 or below. But this period will favour buyers that have long term ambition to hold, there can be volatility within certain range, but all-time-high would not likely take more than 3 years from now.

Note that you are talking about a 50% increase, which in the current bear market situation is very high. I don't deny that such a rise could happen smoothly, within a few weeks or even months, but so far I don't see the reasons for that. Unless the bear market ends and the bull run returns.

The bull run doesn't have to return to see a 50% increase, remember in 2019 when price rose from $4K to $14K? That was all in the context of a broader bear market, with price making a lower high and then collapsing back down to $4K again. I'm not suggesting a 300% increase this time around, as price hasn't fallen as far, but the equivalent dead cat bounce from here to the 0.618 fib retracement would be around $50K.

I'm not even suggesting the bottom is in here, or the bear market is over, this depends more on what happens around $30K when price returns there. Just that many are overlooking what a continuation of a bear market looks like, even if price doesn't make a new low, and it would look like price rebounding to $50K before dropping back down to $25K by the end of the year or sometime next year (12 month later).

Even if price did drop to $12K, the expected dead cat bounce within a bear market to the 0.618 retracement would still be around $48K, as the percentages don't change that much.

[fzkto]

This is just a short term speculation, it is possible that if bitcoin price rise to $28000 or $30000, there could still be selling pressure at that point which could plummet the price down back to $20000 or below. But this period will favour buyers that have long term ambition to hold, there can be volatility within certain range, but all-time-high would not likely take more than 3 years from now.

Note that you are talking about a 50% increase, which in the current bear market situation is very high. I don't deny that such a rise could happen smoothly, within a few weeks or even months, but so far I don't see the reasons for that. Unless the bear market ends and the bull run returns.

The bull run doesn't have to return to see a 50% increase, remember in 2019 when price rose from $4K to $14K? That was all in the context of a broader bear market, with price making a lower high and then collapsing back down to $4K again. I'm not suggesting a 300% increase this time around, as price hasn't fallen as far, but the equivalent dead cat bounce from here to the 0.618 fib retracement would be around $50K.

I'm not even suggesting the bottom is in here, or the bear market is over, this depends more on what happens around $30K when price returns there. Just that many are overlooking what a continuation of a bear market looks like, even if price doesn't make a new low, and it would look like price rebounding to $50K before dropping back down to $25K by the end of the year or sometime next year (12 month later).

Even if price did drop to $12K, the expected dead cat bounce within a bear market to the 0.618 retracement would still be around $48K, as the percentages don't change that much.

Just now a 50% bounce sounds very unrealistic to me. First we need to at least consolidate above the key 22-23k level and then talk about a bounce to 30k. But so far the situation doesn't remind me of 2018, 2020 or 2021. The only similarity is that bitcoin is falling heavily, but before there was no global crisis and now there is. So it seems to me that there is still some way to drop. I don't believe in Fibonacci, I don't even understand what it is and why the price should go there.

[dragonvslinux]

This is just a short term speculation, it is possible that if bitcoin price rise to $28000 or $30000, there could still be selling pressure at that point which could plummet the price down back to $20000 or below. But this period will favour buyers that have long term ambition to hold, there can be volatility within certain range, but all-time-high would not likely take more than 3 years from now.

Note that you are talking about a 50% increase, which in the current bear market situation is very high. I don't deny that such a rise could happen smoothly, within a few weeks or even months, but so far I don't see the reasons for that. Unless the bear market ends and the bull run returns.

The bull run doesn't have to return to see a 50% increase, remember in 2019 when price rose from $4K to $14K? That was all in the context of a broader bear market, with price making a lower high and then collapsing back down to $4K again. I'm not suggesting a 300% increase this time around, as price hasn't fallen as far, but the equivalent dead cat bounce from here to the 0.618 fib retracement would be around $50K.

I'm not even suggesting the bottom is in here, or the bear market is over, this depends more on what happens around $30K when price returns there. Just that many are overlooking what a continuation of a bear market looks like, even if price doesn't make a new low, and it would look like price rebounding to $50K before dropping back down to $25K by the end of the year or sometime next year (12 month later).

Even if price did drop to $12K, the expected dead cat bounce within a bear market to the 0.618 retracement would still be around $48K, as the percentages don't change that much.

Just now a 50% bounce sounds very unrealistic to me. First we need to at least consolidate above the key 22-23k level and then talk about a bounce to 30k. But so far the situation doesn't remind me of 2018, 2020 or 2021. The only similarity is that bitcoin is falling heavily, but before there was no global crisis and now there is. So it seems to me that there is still some way to drop.

For sure I agree price needs to get back above $23K first, but given how oversold Bitcoin is on a Weekly scale, bouncing back to $30K without consolidation would be typical for bear market continuation. That of price attempting to leave oversold levels, getting rejected, then returning to oversold levels. Not to mention re-testing the long-term (18 month) support level of $30K and turning it into resistance.

I don't believe in Fibonacci, I don't even understand what it is and why the price should go there.

It's based on "dead cat bounce" theory. The higher the cat falls from, the higher the cat bounces (not literally, but that's the general theory). The reason I use fib retracement is because in bear markets price usually re-tests 61.8% of the downside that has been achieved, before continuing lower or otherwise consolidating etc. At least in 2016 (@ $800), 2019 (@ $14K) and 2020 (@ $10K) this is exactly what happened.

It's just normal that's all 

[Ziskinberg]

I Think bitcoin could go toward 30k range again For a relief rally. Then come back to current range or even more dump possible . If btc would go toward 30k range most of investors will sell it again. BTCBTC

Bottom is in when the derivatives market is shorting $BTC into the dirt after the brunt of the spot selling has taken place. i.m.o we are currently in a bottom level. must be make an Uptrend from here. what ever it is  this isn't short term game.

We are not getting far from the tragic drops but the positive view that we see this time, it highlights some instances that $30k is really possible. We just hope that this will be no more panic selling and government banning scenarios that affect that trend. We probably see a happy face this time, especially those who bought Bitcoin in the past days when it was just below $20k.

Maybe we have to forget the bottom, I guess we're done already.  

[n0ne]

I Think bitcoin could go toward 30k range again For a relief rally. Then come back to current range or even more dump possible . If btc would go toward 30k range most of investors will sell it again. BTCBTC

Bottom is in when the derivatives market is shorting $BTC into the dirt after the brunt of the spot selling has taken place. i.m.o we are currently in a bottom level. must be make an Uptrend from here. what ever it is  this isn't short term game.

We are not getting far from the tragic drops but the positive view that we see this time, it highlights some instances that $30k is really possible. We just hope that this will be no more panic selling and government banning scenarios that affect that trend. We probably see a happy face this time, especially those who bought Bitcoin in the past days when it was just below $20k.

Maybe we have to forget the bottom, I guess we're done already.  

Over the past few days the price of bitcoin seems to rise above $21k and then drops down to $20k. This is like the market movement that happened around $28k - $30k before the price drop. Maybe this can continue for some time period before moving to the next step of growth. Maybe through this it can gain resistance for breaking the $25k barrier which will ease the market to reach $28k than $30k.

[fzkto]

I Think bitcoin could go toward 30k range again For a relief rally. Then come back to current range or even more dump possible . If btc would go toward 30k range most of investors will sell it again. BTCBTC

Bottom is in when the derivatives market is shorting $BTC into the dirt after the brunt of the spot selling has taken place. i.m.o we are currently in a bottom level. must be make an Uptrend from here. what ever it is  this isn't short term game.

We are not getting far from the tragic drops but the positive view that we see this time, it highlights some instances that $30k is really possible. We just hope that this will be no more panic selling and government banning scenarios that affect that trend. We probably see a happy face this time, especially those who bought Bitcoin in the past days when it was just below $20k.

Maybe we have to forget the bottom, I guess we're done already.  

Over the past few days the price of bitcoin seems to rise above $21k and then drops down to $20k. This is like the market movement that happened around $28k - $30k before the price drop. Maybe this can continue for some time period before moving to the next step of growth. Maybe through this it can gain resistance for breaking the $25k barrier which will ease the market to reach $28k than $30k.

There are a lot of shitty things going on in the world. Inflation isn't just increasing in the US. The Fed is raising key rates regularly, something that hasn't happened in the last 30 years. Stock markets are falling along with various indices. Finally, there is a war going on right now, which has made energy and all sorts of fertilisers and other raw materials very expensive. I don't understand what news could cause bitcoin, which is a high-risk asset, to rise right now.

[Lucius]

It does. And it doesn't make me feel good at all. That $30,000 was a long battle. The price rose several times beyond that but it also lost hold of that several times. But whenever there was a little increase beyond that, it would almost immediately be followed with a rejection. This is exactly what's happening with $20,000 right now. Again, this doesn't make me feel good at all. But although this isn't what we really want to happen, the good thing is that it's also an opportunity. There might never be something like this in the near future.

Most don’t feel good when they see their value melting away, but at this point it’s really not worth getting upset because none of us can change the situation for the better anyway. The time ahead is difficult and challenging, but every day we are closer to a new halving (less than 2 years), which will probably be a new starting point for a big bull run, although in the meantime some super positive news can happen that can result with a price increase of 10-20%.

Of course, it is wise to look at situations like this as opportunities, because the famous investor who does not like BTC (WB) invested about $40 billion in various stocks a few weeks ago and will certainly invest more - for people who have money, Santa Claus is this year come quite early

[sana54210]

Most don’t feel good when they see their value melting away, but at this point it’s really not worth getting upset because none of us can change the situation for the better anyway. The time ahead is difficult and challenging, but every day we are closer to a new halving (less than 2 years), which will probably be a new starting point for a big bull run, although in the meantime some super positive news can happen that can result with a price increase of 10-20%.

Of course, it is wise to look at situations like this as opportunities, because the famous investor who does not like BTC (WB) invested about $40 billion in various stocks a few weeks ago and will certainly invest more - for people who have money, Santa Claus is this year come quite early

I mean if this is about "feelings" you can feel anything you want, you can feel upset that the price is down and your value is gone, or you could feel happy that you could buy it cheap right now and make a lot of money later on. However, if we are talking about the reality, it is not about how you feel because how you feel means nothing at all if you are not going to do something about it. If you want to talk about "actions" instead, then there are 3 things you can do and nothing more.

If you want to sell and take the loss, you sell and take the loss, if you want to wait it out then you do nothing and if you want to just buy some more then you buy some more. I would advice doing anything but the first one, that is the one that makes sure that you lose and you will not be making that money back easily neither, it will be something quite difficult for sure.

[Pejoh Asu]

It seems that the bearish trend is still happening again and many experts believe that the market will rise again in August, if this happens there will be a trend in 2021, the price of dropping in June and last July began to rise in August, so I preferred to buy.

[STT]

At present the price is staying below the 2 day average.  We've made attempts to break that trend but not cemented only fallen back.  Till we consistently hold a good momentum for a closing week bar its best to stay cautious and expect profit taking on rises.  Even a small rise in BTC is big compared to most assets and can be sold easily.

[dansus021]

if bitcoin can back to 30k range again and be stable on it would be great, but as you can see that bitcoin price can't even touch the 25K range or destroy the near resistance  bear still exist in here

[boltz]

No way Btc could hit 30k with a flash pump as it's 10k difference right now and I don't see Bitcoin going up anytime soon. Sure , it will bounce between 2-3 range of a certain price but in general , Bitcoin is going down right now. Based on what most people are saying here, there is to much hope and not so much awareness about the Bitcoin rising in price. If somehow Bitcoin will reach 30k during this year , then we are out of bear market with 1 year earlier.

[Ultegra134]

It does. And it doesn't make me feel good at all. That $30,000 was a long battle. The price rose several times beyond that but it also lost hold of that several times. But whenever there was a little increase beyond that, it would almost immediately be followed with a rejection. This is exactly what's happening with $20,000 right now. Again, this doesn't make me feel good at all. But although this isn't what we really want to happen, the good thing is that it's also an opportunity. There might never be something like this in the near future.

Most don’t feel good when they see their value melting away, but at this point it’s really not worth getting upset because none of us can change the situation for the better anyway. The time ahead is difficult and challenging, but every day we are closer to a new halving (less than 2 years), which will probably be a new starting point for a big bull run, although in the meantime some super positive news can happen that can result with a price increase of 10-20%.

Of course, it is wise to look at situations like this as opportunities, because the famous investor who does not like BTC (WB) invested about $40 billion in various stocks a few weeks ago and will certainly invest more - for people who have money, Santa Claus is this year come quite early

It hit me right in the stomach when I saw how much my BTC is now worth. A few months ago I had a lot less Bitcoin than I do now, and despite currently having more than double of what I had, it's still worth a lot less. While I'm mostly fine with waiting it out, I still become a little disappointed now and then.

History repeats itself, this situation is quite similar to 2018, and it taught me a valuable lesson of not giving up. After the crash, I completely abandoned Bitcoin and the forum itself, totally forgot about my wallets, my account here and everything, in a matter of a few days. My goal now is to stick around, hopefully till the possible recovery of the market, in a year or two at best.

Till then, I'm pretty pessimistic on any kind of recovery within 2022, even $30.000 seems too far from our current point.

[GeorgeJohn]

It seems that the bearish trend is still happening again and many experts believe that the market will rise again in August, if this happens there will be a trend in 2021, the price of dropping in June and last July began to rise in August, so I preferred to buy.

actually this is the time to buy cryptocurrency, and this is major opportunity for someone who is cryptocurrency minded to purchase cryptocurrency and skip the information of bottom and more bottom. Believe that Bitcoin will rise but the june and august everyone is pointing at, is not the exact time factor of two months coming people are predicting. Despite that everyone have right to make it's poin. I believe that Bitcoin having a slight bull run, it be something that will happen between November and December and if actually it will.

[BitcoinPanther]

It seems that the bearish trend is still happening again and many experts believe that the market will rise again in August, if this happens there will be a trend in 2021, the price of dropping in June and last July began to rise in August, so I preferred to buy.

It is not seems, the Bitcoin market had already been in a bear market for months now.  Some vlogger thinks that some good thing will happen in September but without him giving a proper backup and proof, I doubt that.  I think we won't be seeing Bitcoin at the $30k range until next year.  I hope I am wrong but that is what most news and market sentiment feels like nowadays.

[Tony116]

It seems that the bearish trend is still happening again and many experts believe that the market will rise again in August, if this happens there will be a trend in 2021, the price of dropping in June and last July began to rise in August, so I preferred to buy.

actually this is the time to buy cryptocurrency, and this is major opportunity for someone who is cryptocurrency minded to purchase cryptocurrency and skip the information of bottom and more bottom. Believe that Bitcoin will rise but the june and august everyone is pointing at, is not the exact time factor of two months coming people are predicting. Despite that everyone have right to make it's poin. I believe that Bitcoin having a slight bull run, it be something that will happen between November and December and if actually it will.

There is no way to predict what the lowest and highest price will be until it occurs, so it is best not to speculate about it. The right price to buy is as of right now, heavily discounted from the most recent ATH.

I don't believe the market will go up in August but I believe this is a better time to accumulate and hold than wait for another rally to happen now. Most likely as you would expect, there will be a slight bull run at the end of the year and beginning of January 2023.

[ShowOff]

There is no way to predict what the lowest and highest price will be until it occurs, so it is best not to speculate about it. The right price to buy is as of right now, heavily discounted from the most recent ATH.

Speculation is needed especially if it is accompanied by technical analysis and fundamental analysis. Indeed, no one can predict future prices but at least analysis can help traders or investors to find the best time to enter to buy. ATH and the lowest price is a never ending discussion, so it will always fill the speculation board every day.

I don't believe the market will go up in August but I believe this is a better time to accumulate and hold than wait for another rally to happen now. Most likely as you would expect, there will be a slight bull run at the end of the year and beginning of January 2023.

Of course there must be a reason why it didn't rise and why it rose and recovered. It is clear that everything depends on supply and demand, but the thing that affects the most is that this market is always influenced by both negative and positive news.

[Raflesia]

It seems that the bearish trend is still happening again and many experts believe that the market will rise again in August, if this happens there will be a trend in 2021, the price of dropping in June and last July began to rise in August, so I preferred to buy.

It is not seems, the Bitcoin market had already been in a bear market for months now.  Some vlogger thinks that some good thing will happen in September but without him giving a proper backup and proof, I doubt that.  I think we won't be seeing Bitcoin at the $30k range until next year.  I hope I am wrong but that is what most news and market sentiment feels like nowadays.

I think the bear market will continue to be sustainable, it can't be avoided because it has been in the current situation for a long time, I read an article predicting that the bears will continue until the end, I know on the other hand the news says the bears will end soon and by the end of the year could touch above $30k but I don't know which one is right but I think the current situation in the market will still continue to sentiment.
Thinking this would be a low to buy is a good time but the situation could turn around again and any $15k could be hit if the bears persist.