BTC Sentiment Poll for July

[fzkto]

So far bitcoin is at a very important resistance point around 31K. Today we can clearly see the battle between the bulls and the bears. I hope that this resistance will be broken in July. If that happens, I expect bitcoin at 35-37K. I think this scenario is possible this month.

[1714592495]

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[1714592495]

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[BITCOIN4X]

So far bitcoin is at a very important resistance point around 31K. Today we can clearly see the battle between the bulls and the bears. I hope that this resistance will be broken in July. If that happens, I expect bitcoin at 35-37K. I think this scenario is possible this month.

The resistance bitcoin needs to break in July is $32,500 as the main resistance on the traditional pivot indicator for daily TF. $32,500 is still tough considering there have been several selling attempts to fight higher prices. Maybe not against the trend, but maybe because some of the longtime investors are starting to get out after recovering their losses since the bearish run.

I'm not sure if the main resistance will be broken soon or if the price will actually drop to the second, third or fourth support level again. But I believe July won't be too bad to expect the $32,500 resistance to be hit.

[FinneysTrueVision]

It is impossible to accurately forecast the price of Bitcoin using charts data alone. There was some well-known bitcoiners who were preaching the stock-to-flow gospel and were so confident that Bitcoin would go up hundreds of thousands of dollars only to end up looking foolish when the market crashed. People can look at charts and see what they want to see but any random person would be just as likely to predict the future price as long as they have a decent understanding of Bitcoin.

My sentiment is that the price will remain sideways. Bitcoin has already gone up a lot this year so it would take some really massive news event to continue pushing it's momentum much higher.

[Poker Player]

I was hesitating between sideways and price increase, voting in the end for the "Yup" which I understand to be the most likely. Although in a month and due to the volatility of Bitcoin anything can happen, I think the worst of the bear market is over and in recent months, albeit with some ups and downs, the price has been rising. With less than a year to go before the halving, I think the normal scenario will be a slight rise. Without having seen the exact figure of $37K I was thinking of a slight rise in the range between almost $31K, where we are, and $40K. So the $37K is within what I expected.

[fzkto]

So far bitcoin is at a very important resistance point around 31K. Today we can clearly see the battle between the bulls and the bears. I hope that this resistance will be broken in July. If that happens, I expect bitcoin at 35-37K. I think this scenario is possible this month.

The resistance bitcoin needs to break in July is $32,500 as the main resistance on the traditional pivot indicator for daily TF. $32,500 is still tough considering there have been several selling attempts to fight higher prices. Maybe not against the trend, but maybe because some of the longtime investors are starting to get out after recovering their losses since the bearish run.

I'm not sure if the main resistance will be broken soon or if the price will actually drop to the second, third or fourth support level again. But I believe July won't be too bad to expect the $32,500 resistance to be hit.

Everyone sees the charts with their own point of view. It seems to me that the main thing now is to consolidate above 31k. Bitcoin has been trying to do that for a few days now, but the bears are stronger so far. I see a scenario that if 31k is broken, further momentum will follow.

[Dave1]

So far bitcoin is at a very important resistance point around 31K. Today we can clearly see the battle between the bulls and the bears. I hope that this resistance will be broken in July. If that happens, I expect bitcoin at 35-37K. I think this scenario is possible this month.

The resistance bitcoin needs to break in July is $32,500 as the main resistance on the traditional pivot indicator for daily TF. $32,500 is still tough considering there have been several selling attempts to fight higher prices. Maybe not against the trend, but maybe because some of the longtime investors are starting to get out after recovering their losses since the bearish run.

I'm not sure if the main resistance will be broken soon or if the price will actually drop to the second, third or fourth support level again. But I believe July won't be too bad to expect the $32,500 resistance to be hit.

Everyone sees the charts with their own point of view. It seems to me that the main thing now is to consolidate above 31k. Bitcoin has been trying to do that for a few days now, but the bears are stronger so far. I see a scenario that if 31k is broken, further momentum will follow.

Support is now $30k, so $31k might be resistance or it will be the price that we are going to consolidate for this month.

So we will see if we can get over the $31k, but as far as how I observed the market price, it seems to be that it will take at least 3-4 attempts before we can finally break it and then we will go on another run.

Maybe next is $33k-$35k for us this month.

[tokeweed]

After around three attempts of breaking out of 31k, each ended up being a fake out.    This isn't a good sign imho as it looks like momentum is slowing down.  And if we lose 30k, a round number which means it's somewhat a psychological support, it's possible BTC drops back to around 28k - 28.5k range and who knows how long it stays in there.  

And what would suck is if 30k becomes the new resistance...  Again, a round number.  :/  There's something about them that affects people psychologically.

[fzkto]

So far bitcoin is at a very important resistance point around 31K. Today we can clearly see the battle between the bulls and the bears. I hope that this resistance will be broken in July. If that happens, I expect bitcoin at 35-37K. I think this scenario is possible this month.

The resistance bitcoin needs to break in July is $32,500 as the main resistance on the traditional pivot indicator for daily TF. $32,500 is still tough considering there have been several selling attempts to fight higher prices. Maybe not against the trend, but maybe because some of the longtime investors are starting to get out after recovering their losses since the bearish run.

I'm not sure if the main resistance will be broken soon or if the price will actually drop to the second, third or fourth support level again. But I believe July won't be too bad to expect the $32,500 resistance to be hit.

Everyone sees the charts with their own point of view. It seems to me that the main thing now is to consolidate above 31k. Bitcoin has been trying to do that for a few days now, but the bears are stronger so far. I see a scenario that if 31k is broken, further momentum will follow.

Support is now $30k, so $31k might be resistance or it will be the price that we are going to consolidate for this month.

So we will see if we can get over the $31k, but as far as how I observed the market price, it seems to be that it will take at least 3-4 attempts before we can finally break it and then we will go on another run.

Maybe next is $33k-$35k for us this month.

While you and I are discussing support and resistance, bitcoin is approaching 30k again.  Although the weekly chart still looks good, it is still in danger of falling below 30k again. I hope that will not happen, because right now altcoins interest me more than bitcoin, but if bitcoin falls, then altcoins will be in trouble again.

[Jating]

After around three attempts of breaking out of 31k, each ended up being a fake out.    This isn't a good sign imho as it looks like momentum is slowing down.  And if we lose 30k, a round number which means it's somewhat a psychological support, it's possible BTC drops back to around 28k - 28.5k range and who knows how long it stays in there.  

And what would suck is if 30k becomes the new resistance...  Again, a round number.  :/  There's something about them that affects people psychologically.

Who knows, maybe the 4th one will be for real? As far as I can remember, the last time we broke $30k, it also took us like more than around three attempts, so it's just the pattern again.

Prices at $30k is holding though, not a decline to $28k-$29k, so I guess it might be another sideways pattern again?

I initially thought that we could run out to $35k this month, but we are someone stuck for now even if the refiling of Blackrock was the reason for a very brief $31k adjustment.

[laurenB7742]

It is impossible to accurately forecast the price of Bitcoin using charts data alone. There was some well-known bitcoiners who were preaching the stock-to-flow gospel and were so confident that Bitcoin would go up hundreds of thousands of dollars only to end up looking foolish when the market crashed. People can look at charts and see what they want to see but any random person would be just as likely to predict the future price as long as they have a decent understanding of Bitcoin.

My sentiment is that the price will remain sideways. Bitcoin has already gone up a lot this year so it would take some really massive news event to continue pushing it's momentum much higher.

Yes, I also don't believe in what the chart shows us, but many people are relying on it too much and think that everything will work out as the chart shows us. Bitcoin prediction is not possible, and instead, we should always be prepared for both scenarios, which is better than just focusing on technical analysis and trusting it completely.

Prediction for July, I expect bitcoin to hit $33k before we plummet towards the end of the year. I still believe bitcoin will be back to $25k this year before the block reward halving happens.

[bbc.reporter]

While you and I are discussing support and resistance, bitcoin is approaching 30k again.  

Bitcoin will not dump to under $30k.

Also, what was Samsung Mao implying by saying this?


Gm, you’re not ready for what’s to come. #Bitcoin

Source https://twitter.com/excellion/status/1676644542391648256


Blackrock might be very near on getting an SEC approval for their spot ETF. There are people I argue with in the forum who say that there is no difference between the approval of a futures ETF and a spot ETF. To this a shake my head and ask how does the futures market track the price of bitcoin futures contracts?

If Blackrock gets a spot ETF approval we will witness billion dollar twaps very much similar to CZ's $1 billion twap that caused the pump of March 12.



In an interview on FOX Business, BlackRock CEO Larry Fink calls crypto “digital gold,” and labels Bitcoin (BTC) a digital asset.

“I do believe that the role of crypto is digitalizing gold in many ways,” he says. “Instead of investing in gold as a hedge against inflation (and) a hedge against the onerous problems of any one country, or the devaluation of your currency of whatever country you’re in, Bitcoin is an international asset.”

In saying that BTC is an international asset, BlackRock CEO Fink explains that it can be used as an alternative asset to gold.

Source https://watcher.guru/news/blackrock-ceo-crypto-is-digital-gold-btc-an-international-asset

[Sebas.tian]

I voted for yes, because there are some signs that occurred early this month of July that made me to believe that the price will hit higher for investors to experience $40,000 before the end of this month. Over three days now, the price is still remain $30,000 show that what happened last season will not happen in this season and many investors are very ready to achieve passive income when the price increase higher in the market. I don't think, investors will experience low price before the end of this year 2023 because Bitcoin team are seriously working to allow their investors to breath well in this season by experiencing steady pumping through out this year so that they will have more opportunity to invest well again when the price decrease down next year.

[bitzizzix]

I voted for yes, because there are some signs that occurred early this month of July that made me to believe that the price will hit higher for investors to experience $40,000 before the end of this month. Over three days now, the price is still remain $30,000 show that what happened last season will not happen in this season and many investors are very ready to achieve passive income when the price increase higher in the market. I don't think, investors will experience low price before the end of this year 2023 because Bitcoin team are seriously working to allow their investors to breath well in this season by experiencing steady pumping through out this year so that they will have more opportunity to invest well again when the price decrease down next year.

I am also optimistic for the medium-term outlook for the bitcoin price by setting a target of $40,000. But I can't say that July or the end of July will hit that price, because the next bitcoin price target might be $32,000 to $34,000.
and I believe when the bitcoin price reaches that price there will definitely be a sell-off and cause the bitcoin price to drop back down, maybe below $30,000 which will cause another healthy correction that isn't too significant.
and that's all I think what's going on is that the increase in the price of bitcoin will surely come back down even though not much but it will still happen in the next few months, and implementing the DCA strategy is perfect for now.

[Ayers]

I voted for yes, because there are some signs that occurred early this month of July that made me to believe that the price will hit higher for investors to experience $40,000 before the end of this month. Over three days now, the price is still remain $30,000 show that what happened last season will not happen in this season and many investors are very ready to achieve passive income when the price increase higher in the market. I don't think, investors will experience low price before the end of this year 2023 because Bitcoin team are seriously working to allow their investors to breath well in this season by experiencing steady pumping through out this year so that they will have more opportunity to invest well again when the price decrease down next year.

I am also optimistic for the medium-term outlook for the bitcoin price by setting a target of $40,000. But I can't say that July or the end of July will hit that price, because the next bitcoin price target might be $32,000 to $34,000.
and I believe when the bitcoin price reaches that price there will definitely be a sell-off and cause the bitcoin price to drop back down, maybe below $30,000 which will cause another healthy correction that isn't too significant.
and that's all I think what's going on is that the increase in the price of bitcoin will surely come back down even though not much but it will still happen in the next few months, and implementing the DCA strategy is perfect for now.

I am not as optimistic about the medium term as you, but speaking of July, I agree with you that bitcoin will probably hit $32k or $33k, and there will be a correction after that. But it will be a strong dumping that can bring bitcoin down to $20k, it won't happen quickly, it will probably last for months until the end of the year.

Of course, this is my prediction and I'd rather that happen than bitcoin will continue to rally towards $40k. I still DCA monthly, so the bitcoin drop will make me feel better.

[tokeweed]

Just got online and the first thing I checked was BTC's price...  And wow...  I mean who the fk dumped the corn big time and just as when everything started to look good.

I mean wtf.  It doesn't make any sense.  :/  Wouldn't it be a lot better if the guy who dumped just followed the trend and bought going up than going against the flow?  Where does he expect BTC to go?  Back to 25k support..?  Meh.

Anyway, stay safe out there guys.

[dansus021]

For it depends on the news, today Bitcoin ETF is on the way and Blackrock the biggest investment company wants to make one of Bitcoin ETF and needs approval from the SEC.

Binance and Coinbase also sued by the SEC if binance win and the sec approve the ETF it would be huge sentiment for the Bitcoin and maybe it touch 35-37K level at the end of the month

[Dave1]

So far bitcoin is at a very important resistance point around 31K. Today we can clearly see the battle between the bulls and the bears. I hope that this resistance will be broken in July. If that happens, I expect bitcoin at 35-37K. I think this scenario is possible this month.

The resistance bitcoin needs to break in July is $32,500 as the main resistance on the traditional pivot indicator for daily TF. $32,500 is still tough considering there have been several selling attempts to fight higher prices. Maybe not against the trend, but maybe because some of the longtime investors are starting to get out after recovering their losses since the bearish run.

I'm not sure if the main resistance will be broken soon or if the price will actually drop to the second, third or fourth support level again. But I believe July won't be too bad to expect the $32,500 resistance to be hit.

Everyone sees the charts with their own point of view. It seems to me that the main thing now is to consolidate above 31k. Bitcoin has been trying to do that for a few days now, but the bears are stronger so far. I see a scenario that if 31k is broken, further momentum will follow.

Support is now $30k, so $31k might be resistance or it will be the price that we are going to consolidate for this month.

So we will see if we can get over the $31k, but as far as how I observed the market price, it seems to be that it will take at least 3-4 attempts before we can finally break it and then we will go on another run.

Maybe next is $33k-$35k for us this month.

While you and I are discussing support and resistance, bitcoin is approaching 30k again.  Although the weekly chart still looks good, it is still in danger of falling below 30k again. I hope that will not happen, because right now altcoins interest me more than bitcoin, but if bitcoin falls, then altcoins will be in trouble again.

And if I'm not mistaken, it went below for a brief moment? But then again, it rises above $30k and I think we are all good.

Perhaps the Bitcoin ETF spot application hype has somewhat simmered already, as we have thought that it will make the price go above $31k and maintain it's range but it wasn't. Nevertheless, as you have said, everyone is hoping that the $30k will hold for at least this month of July. We don't like to see the price going below it as we might be in trouble again and going back to trading sideways.

[tokeweed]

For it depends on the news, today Bitcoin ETF is on the way and Blackrock the biggest investment company wants to make one of Bitcoin ETF and needs approval from the SEC.

Binance and Coinbase also sued by the SEC if binance win and the sec approve the ETF it would be huge sentiment for the Bitcoin and maybe it touch 35-37K level at the end of the month

Yup I guess the reason why BTC hasn't dropped below 30k yet is due to everybody banking on the idea that the ETF could get the go ahead.  But if that's all it's banking on then could we say that the current uptrend is weak?  It's like it's hanging by a thin thread here.  It has to move up and above 31k - 32k and retest that level as support so we could get a little breather.

The longer it stays where it's at, it feels like some huge whale could spook himself into dumping causing the whole market to panic.  Lolol.

[dragonvslinux]

For it depends on the news, today Bitcoin ETF is on the way and Blackrock the biggest investment company wants to make one of Bitcoin ETF and needs approval from the SEC.

Binance and Coinbase also sued by the SEC if binance win and the sec approve the ETF it would be huge sentiment for the Bitcoin and maybe it touch 35-37K level at the end of the month

Yup I guess the reason why BTC hasn't dropped below 30k yet is due to everybody banking on the idea that the ETF could get the go ahead.  

It could also just be old resistance turning into new support. This is the previous level that price struggled to maintain back in April and after reaching it again last month it seems like at least an attempt to turn it into support this time. So while the ETF speculation may have helped price reach $30K levels again, maintaining this level could simply be part of usual price action of testing old resistance as new support.

But if that's all it's banking on then could we say that the current uptrend is weak?  It's like it's hanging by a thin thread here.  

I wouldn't say the current uptrend is strong, but I wouldn't call it weak either, but rather neutral in the immediate term. Price has been sideways for two weeks now, at a resistance level and at the top of the current trend, so I think it's difficult to say that trend is weak, even if weakening, or weaker than it was last month for example. I agree it does appear to be hanging on by a thread around $30K right now, but overall, it's up to the bears to prove they can move prices below $30K, rather than for the bulls to prove that price can move above $32K, as currently the path of least resistance remains to the upside based on trend/volume.

It has to move up and above 31k - 32k and retest that level as support so we could get a little breather.

Overall I think the longer price trades sideways between $30K and $32K then the more it favours the bulls, as it allows bullish trending moving averages to catch up to the price. Price remains a way away from the 50 & 200 Day MAs that are around $28K and $25K respectively with longer-term moving averages on Weekly/Monthly yet to be fully bullish or crossed bullish. So time favours the bulls right now.

[aylabadia05]

Chose a sideways move for July.
July will be a potential month for the next Bitcoin price movement.

The charts of the last three months counting from April, May and June lead me to believe that Bitcoin in July is headed sideways.
April Bitcoin price chart is slightly higher than May and June is higher than May and almost in balance with April's chart.
If July's chart moves sideways, then August could be an upbeat month to see $40K price.