$30000 is becoming the resistant price

[bitterguy28]

Re-testing the $28,000 to $26,000 levels means that next time we will most likely break the $32,000 level, as it will not hold as it happened the last time.

if that will be the dropping point then indeed that even 35k will be broken any time from that period .
we have been waiting for 32k and above because for how many times this year that the price attempted to take that boarder but suddenly we are failure.

And do not forget that it is summer and holidays, there is no significant change in the price.

holidays and summer truly affecting the growth as more of us taking their funds out or at least to make less investing as there are more priorities and expenses but once its over then better days will come and yes this is the preparation for the coming Halving and Bull running.

[1714946036]

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[1714946036]

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[adaseb]

Yes this was very similar to what happened in 2018. We chopped for months and went no where. Even after summer ended we still didn’t get a strong trend until November time. Catalyst for that dump was the entire Bitcoin sv and Bitcoin cash debates.

So most likely this time around we need something similar. We either will get some massive fud or something positive like an etf approval which will get us out of this tight trading range.

[carlfebz2]

Yes this was very similar to what happened in 2018. We chopped for months and went no where. Even after summer ended we still didn’t get a strong trend until November time. Catalyst for that dump was the entire Bitcoin sv and Bitcoin cash debates.

So most likely this time around we need something similar. We either will get some massive fud or something positive like an etf approval which will get us out of this tight trading range.

Im just really waiting for some news or whatsoever because the market is really that too silent or having no noise recently on which im not saying that it would be relevant on relying with these factors but we do know

that news and fundamentals could really make out such impact, not all the time but at least it does really have that relevance on which it is something that we could look at and basing up our position decisions.
Now that we are hovering and playing around on 30k price point then we could really assume out that this current price would really be the toughest resistance that we do need to break before we could proceed out
on higher price but of course since we are still approaching on next halving then i would assume out that this is really the main event that the market would be waiting
before we could make out some significant movement towards the price but well its always recommended on expecting something which is something that it is unexpected.

[Vaskiy]

Yes this was very similar to what happened in 2018. We chopped for months and went no where. Even after summer ended we still didn’t get a strong trend until November time. Catalyst for that dump was the entire Bitcoin sv and Bitcoin cash debates.

So most likely this time around we need something similar. We either will get some massive fud or something positive like an etf approval which will get us out of this tight trading range.

Everything is upon the cyclic pattern, and bitcoin price movement have got similarities to the past. What we experience looks like the impact of halving. During the days before halving the price movement used to stagnate and move high during the days around the halving.

These days reaction to FUD isn't happening around as people are much aware of the market and the reality behind the growth. As said something positive happening around will give a upliftment in the price of bitcoin.

[Silberman]

Yes this was very similar to what happened in 2018. We chopped for months and went no where. Even after summer ended we still didn’t get a strong trend until November time. Catalyst for that dump was the entire Bitcoin sv and Bitcoin cash debates.

So most likely this time around we need something similar. We either will get some massive fud or something positive like an etf approval which will get us out of this tight trading range.

Everything is upon the cyclic pattern, and bitcoin price movement have got similarities to the past. What we experience looks like the impact of halving. During the days before halving the price movement used to stagnate and move high during the days around the halving.

These days reaction to FUD isn't happening around as people are much aware of the market and the reality behind the growth. As said something positive happening around will give a upliftment in the price of bitcoin.

It is true there are some cyclic patterns on the way the price of bitcoin moves, but at the same time we need to notice the differences, the bull markets are getting less intense than in the past by virtue of the increased market cap of bitcoin, and as such it takes way more money to be invested on this market before bitcoin moves in a significant way, that being said I still expect the next bull market to give very good profits for those that decide to invest right now.

[Yaunfitda]

Yes this was very similar to what happened in 2018. We chopped for months and went no where. Even after summer ended we still didn’t get a strong trend until November time. Catalyst for that dump was the entire Bitcoin sv and Bitcoin cash debates.

So most likely this time around we need something similar. We either will get some massive fud or something positive like an etf approval which will get us out of this tight trading range.

Most likely I will lean towards a positive news, not necessarily ETF approval or something, but a good news that will sway the market again to above $30k or higher before the end of the year. So far we are in a decline, the support of $30k has been broken, nevertheless, it seems that the bull are trying to get it back, as currently the price is $29,190.

So we will see, we have a lot of months ahead in front of us. And I still very positive that something big will come up in the last quarter that will push the price prior to the most anticipated event of block halving early 2024.

[boltz]

Personally , I think we won't hold the 29k mark by the end of the summer and a flash drop towards 27k might happened. The summer cycle have always been tricky with BTC price and I never remember a summer with Bitcoin going up during a bear market but those who will hold , they'll do the best choice as it's too risky to actually predict how low can BTC go from here as 30k seems a bit hard to achieve right now.

[GeorgeJohn]

It's only temporary. I think it will continue until Saturdays. Some Altcoins are pumping while Btc is raging. If someone plays short-term it is highly recommended to use SL (Stop Loss) to minimize risk, because there are no perfect indicators/scripts. But, if long term. it's still safe. because if you enter this month the difference between the purchase price and the decrease is not too big a percentage and don't forget to always pay attention to the Time Frame - 4 Hour movement and prepare funds to buy Bitcoin in the range of $ 28,500 - $ 29,000.

Their no amount of pumping experience of altcoin that will determine or triggered me to invest in altcoin for long term, their something I want to understand very well concerning altcoin investment, if you want to invest with altcoin i think the best to do is ensure that you have venture into short term investment.  Bitcoin is something I know quite well because the investment is profitable at any point in time, so whenever you invest in Bitcoin you will sure make a profit depending on how long is you invest or you place your investment, so i believe any invest the profit is been determined by the increase of the coin you invest in at particular point. That is while many people such much love in investing in Bitcoin knowing that the investment might result positive because Bitcoin rise and fall and when you exercise patient and wait till bullish time you will definitely make a profit for your investment.

[Wend]

Personally , I think we won't hold the 29k mark by the end of the summer and a flash drop towards 27k might happened. The summer cycle have always been tricky with BTC price and I never remember a summer with Bitcoin going up during a bear market but those who will hold , they'll do the best choice as it's too risky to actually predict how low can BTC go from here as 30k seems a bit hard to achieve right now.

Many people are expecting bitcoin to cross $31k and hit $33k or $35k, and I've prepared more USDT. I like to go against the crowd and I think like you, bitcoin will probably correct towards the 26k-27k level instead of continuing to rise as many are expecting. Bitcoin has barely had any significant movement over the past week, and I expect it to correct with the next Fed rate hike soon.

[GeorgeJohn]

Personally , I think we won't hold the 29k mark by the end of the summer and a flash drop towards 27k might happened. The summer cycle have always been tricky with BTC price and I never remember a summer with Bitcoin going up during a bear market but those who will hold , they'll do the best choice as it's too risky to actually predict how low can BTC go from here as 30k seems a bit hard to achieve right now.

Many people are expecting bitcoin to cross $31k and hit $33k or $35k, and I've prepared more USDT. I like to go against the crowd and I think like you, bitcoin will probably correct towards the 26k-27k level instead of continuing to rise as many are expecting. Bitcoin has barely had any significant movement over the past week, and I expect it to correct with the next Fed rate hike soon.

That's to indicate that Bitcoin price is rational and it's unpredictable, bitcoin might seriously experiencing degradation in value as a means of corrections because what i noticed in Bitcoin is that it only appreciate in value whenever the gravity of the demand is higher than the supply and it's obvious that in this year 2023 many people invested in Bitcoin because of some country inflation and it might be one of the reasons while Bitcoin experience a little acceleration. So therefore, theirs every tendency bitcoin may reach thirty five thousand (35k) this year depending on the investor's that will invest in Bitcoin that will make the price to skyrocket, throughout this year it has been between thirty thousand to thirty one thousand (30-31) in value.

[fzkto]

Personally , I think we won't hold the 29k mark by the end of the summer and a flash drop towards 27k might happened. The summer cycle have always been tricky with BTC price and I never remember a summer with Bitcoin going up during a bear market but those who will hold , they'll do the best choice as it's too risky to actually predict how low can BTC go from here as 30k seems a bit hard to achieve right now.

Many people are expecting bitcoin to cross $31k and hit $33k or $35k, and I've prepared more USDT. I like to go against the crowd and I think like you, bitcoin will probably correct towards the 26k-27k level instead of continuing to rise as many are expecting. Bitcoin has barely had any significant movement over the past week, and I expect it to correct with the next Fed rate hike soon.

That's to indicate that Bitcoin price is rational and it's unpredictable, bitcoin might seriously experiencing degradation in value as a means of corrections because what i noticed in Bitcoin is that it only appreciate in value whenever the gravity of the demand is higher than the supply and it's obvious that in this year 2023 many people invested in Bitcoin because of some country inflation and it might be one of the reasons while Bitcoin experience a little acceleration. So therefore, theirs every tendency bitcoin may reach thirty five thousand (35k) this year depending on the investor's that will invest in Bitcoin that will make the price to skyrocket, throughout this year it has been between thirty thousand to thirty one thousand (30-31) in value.

The latest rise can be called fake because it was the expectation that sec would approve etf for many large funds. People think that if these funds have huge money, it will all come to the market. But this news has already played out and the new money is still not coming into the cryptocurrency market. Now the correction has started. I hope that it will not turn into a new fall if there is negative news.

[gabbie2010]

Personally , I think we won't hold the 29k mark by the end of the summer and a flash drop towards 27k might happened. The summer cycle have always been tricky with BTC price and I never remember a summer with Bitcoin going up during a bear market but those who will hold , they'll do the best choice as it's too risky to actually predict how low can BTC go from here as 30k seems a bit hard to achieve right now.

Many people are expecting bitcoin to cross $31k and hit $33k or $35k, and I've prepared more USDT. I like to go against the crowd and I think like you, bitcoin will probably correct towards the 26k-27k level instead of continuing to rise as many are expecting. Bitcoin has barely had any significant movement over the past week, and I expect it to correct with the next Fed rate hike soon.

I have a contrary view here with reference to weekly timeframe of BTCUSD the price of Bitcoin broke a very strong resistance level @$28125 to $29000 via a displacement candlestick on June 18 and the price is presently retouching and respecting that level that is resistance had turned support after a massive price correction from $30336 to $28841 invariably I am expecting a bullish sentiment of the market and a possible breakout of $31K or atleast stuck at the resistance of that zone subject to no any negative fundamental news that might defy that analysis.

[Fakhrulenclix]

Personally , I think we won't hold the 29k mark by the end of the summer and a flash drop towards 27k might happened. The summer cycle have always been tricky with BTC price and I never remember a summer with Bitcoin going up during a bear market but those who will hold , they'll do the best choice as it's too risky to actually predict how low can BTC go from here as 30k seems a bit hard to achieve right now.

Many people are expecting bitcoin to cross $31k and hit $33k or $35k, and I've prepared more USDT. I like to go against the crowd and I think like you, bitcoin will probably correct towards the 26k-27k level instead of continuing to rise as many are expecting. Bitcoin has barely had any significant movement over the past week, and I expect it to correct with the next Fed rate hike soon.

That is very possible after the big pump a few weeks ago until now the price of bitcoin has not had a deep correction and I think that a correction to 25k or 26k is very possible but I don't think it will happen for a long time and we will staying longer at a price close to 3ok, it's been happening since the beginning of the year and I think it will continue to happen.

[dansus021]

New update



The price is still above my Fibonacci Retracement and I dont know yesterday price want to break the 30K level again and it seems fail but at this point it better to watch and see

[Yaunfitda]

^^ Thanks for the update.

And yes, it seems that we wanted to break and go to $30k again, seen as high at $29,500,  but not enough push I guess. And most likely this is due to the bitcoin future contracts that is about to end or has ended that pulled the price below $30k.

So let's see how it goes, just few days to end this month and we can hope that we will be back at $30k again this August. We need that positivity and momentum as we are targeting like $40k-$50k at the end of the year.

[stomachgrowls]

^^ Thanks for the update.

And yes, it seems that we wanted to break and go to $30k again, seen as high at $29,500,  but not enough push I guess. And most likely this is due to the bitcoin future contracts that is about to end or has ended that pulled the price below $30k.

So let's see how it goes, just few days to end this month and we can hope that we will be back at $30k again this August. We need that positivity and momentum as we are targeting like $40k-$50k at the end of the year.

Yes, the price is playing around 29-30k on which it is really that hard to tell on what would be the next movement and also its really that the market now is really that not noisy or there were no news or fundamentals around on which this what make things that we could assume out that there would be no movements on next days to come but who really knows considering that its never been predictable on the first place.
Basing up on technical then it is really that playing around on those levels and touching up those values basing up on fibonnaci and it do really turns out that it is really that following with those paths.
Now that we are approaching in the month of August which it had been known to be the ghost month then speaking up with fundamentals then assuming that this would really be an another bloody month
for the entire crypto space on which it isnt something new.

[indah rezqi]

^^ Thanks for the update.

And yes, it seems that we wanted to break and go to $30k again, seen as high at $29,500,  but not enough push I guess. And most likely this is due to the bitcoin future contracts that is about to end or has ended that pulled the price below $30k.

So let's see how it goes, just few days to end this month and we can hope that we will be back at $30k again this August. We need that positivity and momentum as we are targeting like $40k-$50k at the end of the year.

I am optimistic that the bitcoin price will close above $30k by the end of this July. Very close of course given the current $29,100 - $29,500 price range, but the market needs a stronger push. $30k doesn't have to be an impenetrable resistance although the corrections that have taken place in the last few days have left some people a bit unsettled. I am highly optimistic about a July close above $30k, it will definitely be better to expect bigger moves in August.

Of course there is no certainty due to the high volatility of the trades. Panic traders have made it easier for the market to burn out instead of holding above $30k, but it's good for testing a new support level.

[ShowOff]

I am optimistic that the bitcoin price will close above $30k by the end of this July. Very close of course given the current $29,100 - $29,500 price range, but the market needs a stronger push. $30k doesn't have to be an impenetrable resistance although the corrections that have taken place in the last few days have left some people a bit unsettled. I am highly optimistic about a July close above $30k, it will definitely be better to expect bigger moves in August.

Of course there is no certainty due to the high volatility of the trades. Panic traders have made it easier for the market to burn out instead of holding above $30k, but it's good for testing a new support level.

When talking about bitcoin's potential in the long term, then I also think the potential will be so great to be more expensive. Just like most users say; halving will push bitcoin price more expensive even can be expected to hit new ATH. Price swings that occur on daily or weekly time frames don't really bother me as a holder, but that's because I expect to be able to accumulate at lower prices.

Indeed, it is somewhat unethical to expect bitcoin price to drop to test its new low below $15k after last year, that is was too low to be expected to become a reality. I no longer expect a big FUD to beat back holder optimism, but anything is always possible.

[cryptomaniac_xxx]

I am optimistic that the bitcoin price will close above $30k by the end of this July. Very close of course given the current $29,100 - $29,500 price range, but the market needs a stronger push. $30k doesn't have to be an impenetrable resistance although the corrections that have taken place in the last few days have left some people a bit unsettled. I am highly optimistic about a July close above $30k, it will definitely be better to expect bigger moves in August.

Of course there is no certainty due to the high volatility of the trades. Panic traders have made it easier for the market to burn out instead of holding above $30k, but it's good for testing a new support level.

When talking about bitcoin's potential in the long term, then I also think the potential will be so great to be more expensive. Just like most users say; halving will push bitcoin price more expensive even can be expected to hit new ATH. Price swings that occur on daily or weekly time frames don't really bother me as a holder, but that's because I expect to be able to accumulate at lower prices.

Indeed, it is somewhat unethical to expect bitcoin price to drop to test its new low below $15k after last year, that is was too low to be expected to become a reality. I no longer expect a big FUD to beat back holder optimism, but anything is always possible.

Right, there is short term and long term prediction. Right now, or at least at the end of this month, I'm not seeing it going above or touching $30k. Maybe the OP is right that $30k is the resistant price. Although we have conquered $31k, it didn't maintain that price.

But for long term, yeah, next year will be having our halving and following that, I'm seeing the price hitting ATH. It's that right now, the bear is still in control of the market, and have successfully pull the price below the support line of $30k. Bulls are trying to get it back and will defend it. But for now we need to understand that this is how the market is, and we need good news to push it above again. In any case though that it falter back to $26-$27k which is the price last April to start of July, then it's another golden opportunity to accumulate.

[OgNasty]

I think we’re just seeing stability as buy orders act like a slowly rising tide. Since the economy is starting to squeeze people, banks are acting like crocodiles and waiting for those sell orders to creep close. The interesting thing to me was the drop in price below $30K, which to me seemed to indicate that someone knew the fed was going to be tightening again.