Bitcoin is ready for $40k

[ImThour]

Chart Timeframe: Weekly

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

Let me know what you think about it.

[1714635459]

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[1714635459]

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[STT]

When I plot this I take the first low seen in June last year rather then the eventual low that developed.   This is the nicer view because we are more positive in passing this first bar as a Fib level already and remaining above it at this time.  I think we can move down to 24k area before recovering properly to your target area over some months.  If we're running in circles for the moment with no great trend in reach at present then a lesson I remember from past savage markets is patience and watch for higher lows rather then the peaks especially, peaks are the more erratic and noisy action.

[Dave1]

When I plot this I take the first low seen in June last year rather then the eventual low that developed.   This is the nicer view because we are more positive in passing this first bar as a Fib level already and remaining above it at this time.  I think we can move down to 24k area before recovering properly to your target area over some months.  If we're in running in circles for the moment with no great trend in reach at present then a lesson I remember from past savage markets is patience and watch for higher lows rather then the peaks especially, peaks are the more erratic and noisy action.

But we did move down to $25k earlier and probably this what triggers the OP's prediction to be hitting at least $40k.

The good thing is that even if we have a FUD around or the Binance case, the market never stop to grows based on the charts. So who knows, maybe short term at least $40k is viable or at least in the end of this year. And then we might be ready for the next bitcoin halving as this could be the catalyst. So despite everything that is happening in the last 48 hours, the charts is pointing differently.

[adaseb]

Bitcoin broke into the support area during the binance news. And even after coinbase news it still managed to hold the low. So it basically stopped out all the leveraged longs and reversed.

The fact that it completely engulfed the previous breakdown candle is very bullish. I think we will break the yearly high soon and make our way to the $35ks.

[Republikcoin.com]

Chart Timeframe: Weekly

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

Let me know what you think about it.

This week, resistance and support are very visible in Bitcoin, but I still don't think that Bitcoin will immediately go to $40K, because I only have confidence in a price range that is over $30K and could be close to $35K if for a period of several months forward. I speculate like this because apart from seeing resistance and support levels, I also see a little difficulty in passing $30K even though it could be passed by Bitcoin this month if the increase in prices like yesterday continues.

[mich]

Well let us see if we can make it to $30k before we are talking about $40k price for Bitcoin. I am 'bullish' right now even with the FUD that we are hearing about in the news recent.

The 2 biggest crypto exchanges in the world are being sued by the sec. But price of Bitcoin is still close to $27k. So this means investors are still buying. I think we will see $30k sooner then most people think and hope $40k by end of the year. 

[bakasabo]

I am speculating that we dont see $40k any time soon. Bitcoin barely managed to keep $30k for a day almost two months ago, and now we only get negative news connected with Bitcoin so far. I would be happy if we manage to surpass $30k by the end of this summer and start a slow crawl towards gaining several more thousands by the end of the year. Since the beginning of this year, Bitcoin has already gained from $17k to $27k. That is already a huge achievement for Bitcoin this year.

[Oshosondy]

Well let us see if we can make it to $30k before we are talking about $40k price for Bitcoin. I am 'bullish' right now even with the FUD that we are hearing about in the news recent.

The 2 biggest crypto exchanges in the world are being sued by the sec. But price of Bitcoin is still close to $27k. So this means investors are still buying. I think we will see $30k sooner then most people think and hope $40k by end of the year. 

Even if bitcoin make it up to $30000, that does not mean that it would not be another resistant price, bitcoin has not been going beyond $30000. Its last highest price I remember is $31000. I was thinking bitcoin will make it up to $34000 - $37000 before any big drop again, but it started to drop at $31000 and not going beyond that price. It is very possible that $30000 may be the big resistant price until halving, no nobody yet knows.

[Dunamisx]

Chart Timeframe: Weekly

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

Let me know what you think about it.

If we considers the weekly candles and study the chart flow very well, the moment i see that the bitcoin market went down to $25,000 yesterday but couldn't go down below that range, I've sensed it that the resistance has been made on the limit and from that moment henceforth the market begins to surge higher till it reclaim the #27,000 resistance back within some couples of hours, now we believe base on this trend that there's a very good possibility for bitcoin to break forth this $30,000 resistance and once this had been attempted, getting close to $40,000 will become achievable in due time sooner and we also have to consider the more we are getting closer to halving the more we are likely to begin to experience bullish market trends henceforth.

[dimonstration]

Chart Timeframe: Weekly

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

Let me know what you think about it.

Nice TA on catching those patterns. Still we are already on middle of the current weekly candle which means that there’s still a possibility to close low since the price is being dumping on smaller time frame. This weekly candle is very bullish if the current weekly candle will close on this current price since it will confirm that price support at 25K is strong.

We might really see 40K on coming months as preparation to the upcoming Bitcoin halving. I believe SEC FUD is not enough to turn the bullish trend into bearish in long time frame.

[YUriy1991]

If no negative news emerges, there is still a possibility that the Bitcoin price will head towards the $28K - $29K range first. In its development, Bitcoin can gradually move towards the range of $40k. However, it should be noted that crypto price movements are highly dynamic and can be influenced by many factors, therefore, these projections may change over time. It is important to stay abreast of market developments and the latest news.

[CODE200]

The 2 biggest crypto exchanges in the world are being sued by the sec. But price of Bitcoin is still close to $27k. So this means investors are still buying. I think we will see $30k sooner then most people think and hope $40k by end of the year. 

Investors are buying now because they still trust bitcoin and it's not yet the end of the world for these 2 exchanges, the process for this kind of thing is going to be long so no definite decisions/verdict yet. Or this is just a power play by the SEC to tell these 2 exchanges who's the boss. For me though, I would probably wait a little bit more to buy bitcoin because if this legal battle might take long and negativity will affect the market for awhile.

[CapGelatik]

Chart Timeframe: Weekly

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

Let me know what you think about it.

it's a shame Bitcoin broke through the resistance at $ 30k which is fake, and until now the price is still below $ 30k and there was even a dump to $ 25k,
yes it's difficult for us to analyze again if it hasn't reached above $ 30k, because the bullish level is there so below $ 30k is bearish.
don't get your hopes up if the market is still bearish, bad news will always come and make a market dump.

[YOSHIE]

Let me know what you think about it.

Of course, I also speculate that the price of Bitcoin will reach $ 40k, but I'm not sure the route taken to reach $ 40k will not be in 2023, maybe next year, that's according to speculation that I've seen from several experts predicting market developments crypto.

From my observations and speculations that I've seen, Bitcoin will fall until next August, slowly rising so that it is at a cold point, most likely entering 2024, Bitcoin travel routes can reach $ 40k and so on, that's based on speculation that I've seen, the provisions say so, but what I say can't be held 100%, anything can happen unexpectedly in the crypto market.

[StreakW]

I think it's a bit difficult if the bitcoin price will immediately reach $40k within this month. Recently the price of bitcoin has been on the decline and the resistance and support levels are not doing much better. Therefore, I am speculating that the bitcoin price will most likely only go above $30k and close to $35k in the next few months.

[Vinaa77]

I am speculating that we are about to head to the $40k Range.

Before moving to $40k Bitcoin, it's best to recover to $30k first and play on it, and with this we think the achievement will be easier to predict, at least in this June Bitcoin will have a price change that goes up first, even though it's actually we believe that Bitcoin will still reach this number in the still uncertain time.

[DeathAngel]

There seems to be lots of FUD floating around at the moment. I’m sure you’ve all seen it regarding Binance & Coinbase. The price hasn’t dumped too much as a reaction, when that happens it usually means a mid to long term bottom is in. Hopefully that’s the case here.


Regarding $40,000, it’s possible by the end of 2023. I really hope sooner rather than later but end of this year is definitely a good target. Let’s see how it plays out.

[Ultegra134]

When I plot this I take the first low seen in June last year rather then the eventual low that developed.   This is the nicer view because we are more positive in passing this first bar as a Fib level already and remaining above it at this time.  I think we can move down to 24k area before recovering properly to your target area over some months.  If we're in running in circles for the moment with no great trend in reach at present then a lesson I remember from past savage markets is patience and watch for higher lows rather then the peaks especially, peaks are the more erratic and noisy action.

But we did move down to $25k earlier and probably this what triggers the OP's prediction to be hitting at least $40k.

The good thing is that even if we have a FUD around or the Binance case, the market never stop to grows based on the charts. So who knows, maybe short term at least $40k is viable or at least in the end of this year. And then we might be ready for the next bitcoin halving as this could be the catalyst. So despite everything that is happening in the last 48 hours, the charts is pointing differently.

I don't believe it's the right timing for Bitcoin to surpass $40,000. Binance is going through a serious accusation that has massively affected the market. Bitcoin even went as low as $25,000, which is a huge difference from what the OP is speculating. Thus, I don't think that it'll happen anytime soon, maybe towards the end of the year or at least the summer, if things with Binance don't take a sudden turn for the worse, which will have detrimental effects on the market. It's already quite bad, if you ask me.

Hopefully, on the other hand, it's a great opportunity to take advantage of the significantly lower prices.

[MFahad]

Bitcoin is not so up and previously it touched the marked of 30k$ but as we see recently the price is not so high like it is 26k$ so may be this down is a sign of Bull run because whenever market goes down then after few weeks or months it pumps and goes to the higher cost. As usual we cannot predict exactly the ups and downs before the time comes. Year is now remaining so everything can be possible which is hidden from us but we assume that time will be needed for such a great value to be possible, its not hard to attain so our hope should be better therefore we will get better.

[flyingcarpet]

In order to go to 40 thousand dollars, we need to exceed 30 thousand dollars. It makes more sense to go to the goals step by step. This is how I chart my path. Of course we will go up to $40,000 but right now it may take some time. I think the market will calm down a bit, especially after the news. This means that it will continue horizontally for a while.

I don't understand why investors who are nervous about the news are selling Bitcoin. Bitcoin is independent of exchanges. Binance was sued today and another exchange could be sued tomorrow. This shouldn't affect Bitcoin.