Bitcoin on Weekly looks Dangerous

[buwaytress]

I might sound like dull Jack but yeah, each time we step up to support, I'm expecting it to break -- only temporarily. Even if it's a series of breaks after that as a result, though, I'm all right to hang in there -- as is the bulk of long-termers -- until the system flushes out the short-termers.

For me, really no point for a rally that won't sustain pre-halving.

[Johnyz]

What is the expectation now, we are still below $30,000, but the price is still resisting to reach above $31,000, which we can consider as the strongest resistance level before we reach $41,000 (which is an unexpected scenario based on current trading volumes)

Personally, I hope to see levels less than 25K in the coming weeks. I want to buy a little, and therefore buying at these levels is much better than 41k levels, so my hopes are different from what some people here want.

Looking at the price trend now, it looks like Bitcoin is slowly getting its momentum and gaining more volume as day passed by.
We might not see Bitcoin at the price of $25k again as its able to hold to the support level of $29k. I expect a more bullish trend in the coming weeks.
Despite of the ghost Month, Bitcoin is able to survive the threat of a dump, we should continue to watch the price and decide what's the best for your strategy.

[RewFrew]

Bitcoin price Roughly Stable near about $29k. Some times it up and down. But we can tell near about $29k is Resistance level. But weekly candidate showing it will go up in next week. I think gradually Bitcoin price will increase and within next week Bitcoin price will hit minimum $35k. But if it’s price fall then it will go $25k. But weekly candidate showing it will go up. Of all will ok and we get some positive news then it will must go up and it will hit minimum $35k and within this month Bitcoin price will toich $40k. And i am also waiting for that. Need some crypto wheal if they invest big amount then in market will creat positive impact. Then Bitcoin price will go more up.

[el kaka22]

Aaaaaand as we have seen it wasn't as dangerous as people made it out to be. I get that it's not going to be something that people fear, it's normal and there is nothing wrong with that, but we need to reach to a point where it's not going to be that much of a big deal. We need to realize that this is going to be something to be aware of course but if you keep on looking at data and charts like this forever, then something like this could happen and wipe it all away.

Be aware that even the data that you trust so much could end up with a wrong result in the end, and that's why you need to be aware of the situation at hand and be a lot more careful about it. This is why I believe that we should check the charts, but use them as guide and not data.

[beerlover]

Bitcoin price Roughly Stable near about $29k. Some times it up and down. But we can tell near about $29k is Resistance level. But weekly candidate showing it will go up in next week. I think gradually Bitcoin price will increase and within next week Bitcoin price will hit minimum $35k. But if it’s price fall then it will go $25k. But weekly candidate showing it will go up. Of all will ok and we get some positive news then it will must go up and it will hit minimum $35k and within this month Bitcoin price will toich $40k. And i am also waiting for that. Need some crypto wheal if they invest big amount then in market will creat positive impact. Then Bitcoin price will go more up.

The stable price point makes me excited because it doesn't make it look dangerous to me, it makes it look profitable. When the price of bitcoin fails to go down, it goes up and we have tried it, we went from above 30k levels to as low as 29k and it did not drop any lower, it tried and a lot of people sold but buyers made sure that it didn't go any lower.

This is why I think it's quite obvious that we are going to end up with a profit one way or another. We should realize that life is not that simple and it could not be really anything comfortable at all. Lets hope that things do not end up any other way and we could end up making sure that it goes well enough for all of us. 30k will be broken, and we will keep rising higher.

[Mr.suevie]

Bitcoin price Roughly Stable near about $29k. Some times it up and down. But we can tell near about $29k is Resistance level. But weekly candidate showing it will go up in next week. I think gradually Bitcoin price will increase and within next week Bitcoin price will hit minimum $35k. But if it’s price fall then it will go $25k. But weekly candidate showing it will go up. Of all will ok and we get some positive news then it will must go up and it will hit minimum $35k and within this month Bitcoin price will toich $40k. And i am also waiting for that. Need some crypto wheal if they invest big amount then in market will creat positive impact. Then Bitcoin price will go more up.

Your speculation are rather wild and good actually if it happens but for me I think the resistance of it to break past the 30-31k mark will be very difficult because the price seems to just be hovering around this mark for some time now and seems to get it hard passing this stage. But atleast I know will achieve 40k mark this year but I think it will be towards the end of the year.

[tygeade]

If you look at the Bitcoin chart on Weekly Timeframe, it surely looks very dangerous. It's about to hit the Trendline which is acting as a support since the start of the year.
If it goes below the trendline, you can expect upto 25% discount on Bitcoin price which will bring it down to $21.6k and if it doesn't, then $41k incoming.

What do you think is gonna happen?

These things are not "dangerous", people should stop talking about price drops as dangerous or even potential of price drop as dangerous, it's not. It's only a natural part of the crypto world and in fact any market in the world, all markets end up being down and up in turns.

So when the price goes down, that's not a dangerous thing and we should not be considering it as a dangerous situation, it should be received as just a normal business day and that's it. I understand that it may or may not go down more, and it has gone down some already, and that makes some people fear it, but don't be, because just as it goes down, it will go up and there is nothing to worry about it at all and should be considered normal.

[fzkto]

If you look at the Bitcoin chart on Weekly Timeframe, it surely looks very dangerous. It's about to hit the Trendline which is acting as a support since the start of the year.
If it goes below the trendline, you can expect upto 25% discount on Bitcoin price which will bring it down to $21.6k and if it doesn't, then $41k incoming.

What do you think is gonna happen?

These things are not "dangerous", people should stop talking about price drops as dangerous or even potential of price drop as dangerous, it's not. It's only a natural part of the crypto world and in fact any market in the world, all markets end up being down and up in turns.

So when the price goes down, that's not a dangerous thing and we should not be considering it as a dangerous situation, it should be received as just a normal business day and that's it. I understand that it may or may not go down more, and it has gone down some already, and that makes some people fear it, but don't be, because just as it goes down, it will go up and there is nothing to worry about it at all and should be considered normal.

Maybe you are right if you are a long-term investor, you don't need to talk about the danger that the price may fall, because after a while there will be a new rise. But if you trade on the exchange and made a bad trade, after which the price started to fall, it will be dangerous for you. If you don't want to be an investor, you need to analyse charts all the time.

[AakZaki]

Maybe you are right if you are a long-term investor, you don't need to talk about the danger that the price may fall, because after a while there will be a new rise. But if you trade on the exchange and made a bad trade, after which the price started to fall, it will be dangerous for you. If you don't want to be an investor, you need to analyse charts all the time.

So long-term investors will always be safe and won't be stressed by looking at charts continuously. Having a long-term investment with a predetermined profit price target will be good enough, just buy and hold, no other activities required. The most important thing is that the wallet remains safe and under your control.
for those making quick trades it can be quite a stressful experience, having to constantly monitor the charts and having to determine exactly when to enter and exit. instant profits and of course greater risk

[Don Pedro Dinero]

What do you think is gonna happen?

As my time horizon is quite a few years, I don't really care that much.

If you look at the Bitcoin chart on Weekly Timeframe, it surely looks very dangerous. It's about to hit the Trendline which is acting as a support since the start of the year.
If it goes below the trendline, you can expect upto 25% discount on Bitcoin price which will bring it down to $21.6k and if it doesn't, then $41k incoming.

You say so yourself. If we have bitcoin at a discount, we should take advantage of it to buy it cheaply.

Even if such a bearish scenario were to occur, I don't think the price would last long at such bearish levels. It would be best to take the opportunity to buy more at such a low price level which we will probably never see again and which in a few years time we wish we had the opportunity to buy.

[YUriy1991]

What is the expectation now, we are still below $30,000, but the price is still resisting to reach above $31,000, which we can consider as the strongest resistance level before we reach $41,000 (which is an unexpected scenario based on current trading volumes)

Personally, I hope to see levels less than 25K in the coming weeks. I want to buy a little, and therefore buying at these levels is much better than 41k levels, so my hopes are different from what some people here want.

Looking at the price trend now, it looks like Bitcoin is slowly getting its momentum and gaining more volume as day passed by.
We might not see Bitcoin at the price of $25k again as its able to hold to the support level of $29k. I expect a more bullish trend in the coming weeks.
Despite of the ghost Month, Bitcoin is able to survive the threat of a dump, we should continue to watch the price and decide what's the best for your strategy.

Yes. BTC must be out of the $ 30,000 price. On the other hand, if it fails, and breaks below $ 30,000, BTC will potentially weaken to the US $ 29,500 to $ 28,500 area which can also be considered the next entry area, and many experts estimate that Bitcoin prices will reach $ 33,000 at the end of this semester.

I think this is also very closely related to where there are still a number of potential issues that could hold Bitcoin prices down, such as fears of a potential increase in US interest rates, which are predicted to continue to rise until the end of the year.

[GeorgeJohn]

What is the expectation now, we are still below $30,000, but the price is still resisting to reach above $31,000, which we can consider as the strongest resistance level before we reach $41,000 (which is an unexpected scenario based on current trading volumes)

Personally, I hope to see levels less than 25K in the coming weeks. I want to buy a little, and therefore buying at these levels is much better than 41k levels, so my hopes are different from what some people here want.

Looking at the price trend now, it looks like Bitcoin is slowly getting its momentum and gaining more volume as day passed by.
We might not see Bitcoin at the price of $25k again as its able to hold to the support level of $29k. I expect a more bullish trend in the coming weeks.
Despite of the ghost Month, Bitcoin is able to survive the threat of a dump, we should continue to watch the price and decide what's the best for your strategy.

Nobody predicts the price of bitcoin accurately because when looking at Bitcoin price rotating I believe that the price of bitcoin is not constant and it have any measure to be say that it have escape down fall or rising up, so when we are say such things that means we believe that bitcoin price can be going up and nothing will bring it down. Bitcoin have not escape going down to twenty five thousand (25k). I want us to know that the price of bitcoin is not constant and it's rotational and I believe the price what affects the increment is when the market of bitcoin promising, and what determined the increment of the market is when demand is high, and same time we can experience the down fall aspect of bitcoin, because when looking at the falling rate of bitcoin you notice that what triggers it is when we lack investor and the supply is higher than demand, so that affects bitcoin price.

[LogitechMouse]

What is the expectation now, we are still below $30,000, but the price is still resisting to reach above $31,000, which we can consider as the strongest resistance level before we reach $41,000 (which is an unexpected scenario based on current trading volumes)

Personally, I hope to see levels less than 25K in the coming weeks. I want to buy a little, and therefore buying at these levels is much better than 41k levels, so my hopes are different from what some people here want.

Looking at the price trend now, it looks like Bitcoin is slowly getting its momentum and gaining more volume as day passed by.
We might not see Bitcoin at the price of $25k again as its able to hold to the support level of $29k. I expect a more bullish trend in the coming weeks.
Despite of the ghost Month, Bitcoin is able to survive the threat of a dump, we should continue to watch the price and decide what's the best for your strategy.

Yes. BTC must be out of the $ 30,000 price. On the other hand, if it fails, and breaks below $ 30,000, BTC will potentially weaken to the US $ 29,500 to $ 28,500 area which can also be considered the next entry area, and many experts estimate that Bitcoin prices will reach $ 33,000 at the end of this semester.

I think this is also very closely related to where there are still a number of potential issues that could hold Bitcoin prices down, such as fears of a potential increase in US interest rates, which are predicted to continue to rise until the end of the year.

$30,000 is acting again as our psychological support, and yes it needs to go above that price, and stay above it in order for Bitcoin to go even higher.
The question is what will be the catalyst to that because right now, we aren't hearing that much news with regards to Bitcoin, and the US Stock Market is on decline as well, and we know that these 2 are kind correlated with each other. Overall, there aren't news or anything right now that might cause the price of Bitcoin to go up.

We saw Bitcoin pumped a bit a few days ago, but is now slowly declining again. August is considered a Ghost Month by some people, so I guess we expect more of a sideways movement. The final 4 months will be the most exciting months. What I expect to happen in the next weeks? if there will be no news that might cause the price of Bitcoin to pump, we might see it's price decline gradually, but yeah I agree as well that the price of Bitcoin seems dangerous. Bitcoin to $16,000 again!!!

[ginsan]

What is the expectation now, we are still below $30,000, but the price is still resisting to reach above $31,000, which we can consider as the strongest resistance level before we reach $41,000 (which is an unexpected scenario based on current trading volumes)

Personally, I hope to see levels less than 25K in the coming weeks. I want to buy a little, and therefore buying at these levels is much better than 41k levels, so my hopes are different from what some people here want.

If we look at the btc chart this week, BTC is still below $30k and we see strong support in the $29k area due to the large number of purchases that made entry at that price. I like you expect relatively low purchase support before the big pumps come along. However, reflection can react quickly in case of sudden strong volume support.

Apart from that I think the biggest resistance point to cross is at the $32k price point because from the start of the year we saw btc hit a high of $31800 after a strong crash late last year. Yes, if your buy level is in the $25k area I think this entry is much coveted by those who missed the low price moments in the previous months.

[GeorgeJohn]

Bitcoin price Roughly Stable near about $29k. Some times it up and down. But we can tell near about $29k is Resistance level. But weekly candidate showing it will go up in next week. I think gradually Bitcoin price will increase and within next week Bitcoin price will hit minimum $35k. But if it’s price fall then it will go $25k. But weekly candidate showing it will go up. Of all will ok and we get some positive news then it will must go up and it will hit minimum $35k and within this month Bitcoin price will toich $40k. And i am also waiting for that. Need some crypto wheal if they invest big amount then in market will creat positive impact. Then Bitcoin price will go more up.

Your speculation are rather wild and good actually if it happens but for me I think the resistance of it to break past the 30-31k mark will be very difficult because the price seems to just be hovering around this mark for some time now and seems to get it hard passing this stage. But atleast I know will achieve 40k mark this year but I think it will be towards the end of the year.

The achieving forty thousand (40k) this year is under probabilities because bitcoin price is fluctuating at price of thirty thousand and twenty nine thousand to twenty eight thousand (30k/29k-28k) at this point, we can not come in conclusion that we shall achieve the price of bitcoin reaching forty thousand this year with full predictions assurance, because their is every tendency that the price of bitcoin can be  lower than our expectations due to the market determinants, so predicting the value bitcoin, we have to know that the price can be revised at any point in time due to information circulation of country that is against bitcoin and is above bitcoin price. Let us not depend on assumptions and take the price of bitcoin as rotational price which can never be constant at a particular point

[fzkto]

Maybe you are right if you are a long-term investor, you don't need to talk about the danger that the price may fall, because after a while there will be a new rise. But if you trade on the exchange and made a bad trade, after which the price started to fall, it will be dangerous for you. If you don't want to be an investor, you need to analyse charts all the time.

So long-term investors will always be safe and won't be stressed by looking at charts continuously. Having a long-term investment with a predetermined profit price target will be good enough, just buy and hold, no other activities required. The most important thing is that the wallet remains safe and under your control.
for those making quick trades it can be quite a stressful experience, having to constantly monitor the charts and having to determine exactly when to enter and exit. instant profits and of course greater risk

I also believe that regular investing is much better and profitable than day trading. The most important thing is that you keep mentally calm in all situations. Even if the price drops, you can just buy some more bitcoin. This is better than thinking about how the chart looks, worryingly or well. That's time you can spend on something else.

[michellee]

I guess it's not dangerous. If the Bitcoin price drops to $21.6k, Bitcoin investors, including old investors, will be very happy because they can accumulate more. But for impatient people, they will panic to see the price drop sharply again. And it would be like the moment when the Bitcoin price dropped to $17k.

Investors' target is to continue accumulating as much Bitcoin as possible for now because in the next year, Bitcoin will experience a halving and usually, the price can increase immediately. And if the price can't immediately increase before the halving or after the halving, that's also okay because they can still be patient in waiting.

We shouldn't panic and keep trying to accumulate more Bitcoins. And if it is true that the price drops to that price level, it will be another good time for us to buy more Bitcoin. So calm yourself down and enjoy the ride

[dragonvslinux]

I'm open to the idea of price reaching around $20K again if we see prices break down much further. Have lost interest in price action over recent months due to how low the volatility is, however this usually follows by a dramatic increase in volatility. At the moment that appears to be favouring the bears, unless price is remain range-bound between $25K and $32K until the end of the year.

Ultimately expectations of $40K and $50K this are more or less passing now if $30K can't be reclaimed. It was looking likely a few months ago but now there is little to momentum in the market, even if that doesn't necessarily favour the bears at the moment either. It may well take until before/after the halving before we see prices nearer the highs than the recent lows.

Either way, look forward to prices moving again even if it is to the downside. If price is to re-test below $25K than I'd prefer for it to happen soon rather than in a few months or next year...

PS - There was a Hash Ribbons buy signal last week, but given how much the capitulation signal failed to cause any real miner/price capitulation, I don't think it amounts to much right now. It was more of a case of 30 & 60 MA consolidation that caused the initial bearish crossover and it's resolved itself after a month. It does slightly remind me of the buy signal in July 2020 though which took a few weeks to play out.

[justdimin]

These things are not "dangerous", people should stop talking about price drops as dangerous or even potential of price drop as dangerous, it's not. It's only a natural part of the crypto world and in fact any market in the world, all markets end up being down and up in turns.

So when the price goes down, that's not a dangerous thing and we should not be considering it as a dangerous situation, it should be received as just a normal business day and that's it. I understand that it may or may not go down more, and it has gone down some already, and that makes some people fear it, but don't be, because just as it goes down, it will go up and there is nothing to worry about it at all and should be considered normal.

Maybe you are right if you are a long-term investor, you don't need to talk about the danger that the price may fall, because after a while there will be a new rise. But if you trade on the exchange and made a bad trade, after which the price started to fall, it will be dangerous for you. If you don't want to be an investor, you need to analyse charts all the time.

As a long-term investor, I think the danger is still there as sometimes it takes Bitcoin a long time to recover. There are times it can recover quickly but it can also fall down immediately. We also don't know what the future awaits in BTC. What if there is a new coin that will be released which is better than in BTC? Or a severe issue in BTC will suddenly came out which can end its life? He might be an investor already because he thinks trading is hard so I don't think his decision will change.

Trading is hard but there are also advantages once you overcome it. One is you can earn quickly. Traders can also choose another coin, so that they can still earn once Bitcoin is not really performing well.

[Unbunplease]

The end of August is approaching. Bitcoin usually booms in August-September and then drops in October. So yes, this is a very dangerous time, so you need to be especially careful with leverage and futures trades. It is better to trade on the spot. This is my opinion.