$31450 proves too strong for Buyers, but Sellers may only dominate below $29400

[sana54210]

It's good that you have funds put aside in case that the price is going down or there is correction. However, the opportunities has been persistent for months now because we are trading sideways and the current price of $25k-$26k is still very cheap.

So it's a great opportunity for everyone, and hopefully there are investors who are not just waiting for the price to go down hard again as last year because it might not present itself and this kind of opportunity will not arrived. Moral lesson is that we should buy and accumulate so that we will be ready when the bull run arrives mid next year.

That's right, if anyone has any money on the side that they can afford to use for buying bitcoin, they should be doing that right now. There is no scenario where it would make sense to stop and wait, we are getting closer to halving and the longer you wait the higher price will go and you will end up not having any type of return at all.

I guess it is going to be something that we are not careful about and that should be the important part of it. I get that we are going to end up with something that should profit people on the long run and we could make it work somehow. I mean the best thing to do in this case would be helping each other out. I believe that it is going to end up with a good return if we buy right now.

[Mahanton]

For those of us who trade the trend of the market, Bitcoin has been so frustrating since the 23rd of June when it hit another year's ATH before the subsequent ones. That was the last time a viable bullish movement occurred, and it's almost a month now, but it continues to channel with no clear direction as many economic data, news and event updates affect it differently.

On a closer look at the market today, this might continue, but two important levels could change the narrative in support of either the buyers or the sellers. These two lines are the $31450 (the year's ATH established in June) and the $29400 (where the correction of June's bullish run ended). By principle, both levels have constituted strong barriers that need to be broken before a trend could be established.

However, more attention is on the $31450 as buyers seem to be gaining more traction compared to the lower level of $29400 which has not been threatened since the last day in June. Regardless, more sellers seem to be piling up around $31450, which could only explain why the market has not had a single close above the level in the last 24 days despite all the attempts of the buyers and some positive news.

For this, I believe a daily close above the level ($31450) will activate a strong bullish trend, while a break and daily close below $29400 might pressure the market.

I made similar projection in this thread where I gave two case scenarios of my expectations for Bitcoin. So far, the first scenario that suggested a downward move to the $26k region seem to be playing out. The zone is actually critical and expected to hold price for more upward moves. However, if that zone is eaten by the bears, then there is a high chances that prize will reach the $22k-$20k region. This will be a lot depressing to a lot of people but not the true believers because Bitcoin will always bounce back stronger and better.

In my submission, I actually stated that Bitcoin will rise to create new highs just like every other person is saying. The time it will rise and to what extent it will go deeper before rising is what no one know with certainty. The wise thing to do at this point is to try and hold reasonable amount of Bitcoin while preparing for the rise.

Being in this forum already mean you believe in Bitcoin and it will not be logical to be here and miss out on securing your future through Bitcoin because Bitcoin is indeed the future.

Now we are playing on prices which is really that below these price points on which we are talking now on 27-28k on which this had been known the strong support until the price hits up that 25k support. Good thing that
it didnt really have those breakouts on which it did really that resulted into some small scale recovery but at least the price is really gradually backing up to 30k. We are now focusing on breaking that 28k resistance before we would really be breaking that 30k then next would really be 34-35. For now there are no current positive sentiments or news that would really be pushing through the price.It might be that quite nonrelevant
but we know that news like this could really make neither an impact or not but most likely nowadays, it does!.

Here's the current chart;

[Dave1]

^^ We will see, there's a lot of movement right now, and we might hit $28k or already hit that price. If we did and there is a strong volume, then we should be maintaining that price this October.

And so with this kind of pump, October is really good for us, I mean in the last six months all we have seen is sideways so we need more action, more volume and hopefully that $30k can be broken again or at least we will be in that price range once we hit December. Short term, it looks like we might be on some sort of short rally before the halving.