Will $25,000 give way this time?

[EarnOnVictor]

It's no more news that Bitcoin fell sharply last week with over $4000 shedded, this was largely attributed to contradictory events, regardless, the market has moved significantly and the aftermath has left the sentiment on the larger charts bearish.

If you remember in my last review here, I made mentioned that Bitcoin could do three things, it could either claim a bullish path with a convincing break of $31,450, or a bearish path with a sustainable breach of $29,400, or could remain sideways in a confined range between the two levels. It however chose to breach the lower end and convincingly moved a $4000 target below it.

Now, the weekly chart remains bearish and threatens further selling. I see $25,000-$24,700 (approx. low of June) as the viable barriers to contend with. A significant break of these levels would further pressure the market.

Let me hear from you guys, what do you think of the fate of $25,000 this time?

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[woez]

It is very possible if the support is broken, and it is possible that it will drop again. Moreover, the big sell-off came from large institutions that were shaken even though they knew that BTC had to be patient and use a defensive pattern, although some people think that BTC is very cheap now. So, we can take a lesson in these 2 days, not only the direction of price movement that we see, but margin and leverage must also be calculated in trading.

[AbuBhakar]

It is very possible if the support is broken, and it is possible that it will drop again. Moreover, the big sell-off came from large institutions that were shaken even though they knew that BTC had to be patient and use a defensive pattern, although some people think that BTC is very cheap now. So, we can take a lesson in these 2 days, not only the direction of price movement that we see, but margin and leverage must also be calculated in trading.

Some institutional investors always think about profit and doesn’t care about long term investment especially if they just enter on the dip and probably taking profit. This is same with day traders that rush in to purchase Bitcoin during the short term bull run. I’m thinking the current dip as shake off to remove those short term players and transfer there Bitcoin is to the new holders that will hold long term. This will make Bitcoin value slowly moving upward instead of a quick pump that follows by sharp dump like this.

[Oshosondy]

We do not know where the price of bitcoin would be for now. There would likely be a support around $25500 to $25700. It may look bearish but I can see support around that price range.

If bitcoin breaks the support and it moved below $24000 to $23000, I am expecting $20000 and prices below again. If bitcoin will go down further, it will not go below $17000 is my guess.

[STT]

Interesting thing is that a year ago we were right here anyway.   The difference in tone this time is we are viewing thar area from above, having it as support where it was a ceiling a year before.  I think its good support so not right now, in wider terms I'd say we repeat ourselves and keep failing to test the higher prices even when positive for days, a week or more.  Overall it has been the case we move sideways more then up and thats the label for the whole year, more then any proper fight, progression or even race but we are mud fighting in a pit in a messy way falling over all the time.

[salad daging]

The current low of this drop is $25,400 maybe it was as a support point but bitcoin bounced up a bit and is now in the range of $26,000, I have always argued that a bottom support is likely to occur given that this is the bearish we saw since yesterday's drop but the $25,000 support point then there is a drop going down again.

I was expecting a drop of around $20,000 to accumulate even closer but my guess is that it is very wild meaning bitcoin is unlikely to fall any deeper except with a support point at its lowest $25,000 price.

Yeah, it's still hard to see the movement.

[Gozie51]

Your chart is pointing down to 18,556 and that could mean a very bearish time but I don't know what month it could be or even this year. But your speculation for $25k is very possible with the drop already the price could still slowly drop as the effect of the shedding of 4,000 is still felt in the market, that is making weak hands to drop more coins in fear. It is all speculative but the real fact is bitcoin will profit those who hodl till the new dawn of halving next year.

[serjent05]

It is kinda hard to predict.  This moment is a crazy time for the Bitcoin market.  Out of the blue due to an unfounded rumor about Spacex selling their stash brings FUD to the market.  I feel like someone is dragging the price down and I do not think that they had enough.

So from that, I believe there will be a tug of war and the price might hover in a sideway trend of $25k - $27k.  It would be lucky for the buyer if the price slips down to $20k but I believe that is too far for Bitcoin to dip.

But well anything may happen, this is the Bitcoin market where everything is possible to happen.

[Aanuoluwatofunmi]

It's no more news that Bitcoin fell sharply last week with over $4000 shedded, this was largely attributed to contradictory events, regardless, the market has moved significantly and the aftermath has left the sentiment on the larger charts bearish.

Whenever we had a bearish trend like this, people gives different opinions on why it appears the way we had it, unfortunately there's nothing to give in making clarity on this because bitcoin will always remain volatile weather through any of the occuring events attributed to the bear market or not, the way forward clearly shows from he chart that we are already in dip, but there's a very close attempts to rise base on the speculation given on the candles as seen, there have been more attempts to rise but the potential resistance is more this time around, but i think something new can be seen this week or subsequent for more attempts on bull.

[cabron]

When the bears keep pushing the price down because a lot are selling out, a drop to 16k again might just signal a time to sell so you could buy at a lower price. The market always comes back down to where the support is until bullish investors saves it. It's not something to worry however since there are always bullish investors who are willing to buy at a discount. 

We all have different strategies, some are like holding for the long term and some are short sellers. The $25,000 depends on them.

[noormcs5]

When the bears keep pushing the price down because a lot are selling out, a drop to 16k again might just signal a time to sell so you could buy at a lower price.

Do you think that 16K bitcoin price will come? If it comes to that level, it will make a double bottom and of course, in that price, you should accumulate more bitcoin but I doubt that we can see bitcoin ever again under 20K. With halving just a few months later, I do not think that the demand for Bitcoin can be so less that it can dump to under 20k.

It is very possible if the support is broken, and it is possible that it will drop again. Moreover, the big sell-off came from large institutions that were shaken even though they knew that BTC had to be patient and use a defensive pattern, although some people think that BTC is very cheap now. So, we can take a lesson in these 2 days, not only the direction of price movement that we see, but margin and leverage must also be calculated in trading.

Bitcoin is trading for about 26000$ and I am not sure if it will further dump in the short term. I think the dump for the moment is over and Bitcoin is headed again towards the 30K resistance but it may take some days before it will be ready to test that resistance again.

[GeorgeJohn]

It is very possible if the support is broken, and it is possible that it will drop again. Moreover, the big sell-off came from large institutions that were shaken even though they knew that BTC had to be patient and use a defensive pattern, although some people think that BTC is very cheap now. So, we can take a lesson in these 2 days, not only the direction of price movement that we see, but margin and leverage must also be calculated in trading.

I do portray everytime in bitcoin market that bitcoin doesn't have a specification in market, but some people do think that whenever Bitcoin is experiencing a positive reaction in the market and it will continue that way, I believe that bitcoin have it way of increment, so I believe everyone who is in bitcoin investment knows quite well that bitcoin  is dependable, and you know very well that bitcoin as a currency is something I know that the price always fluctuates and it have no base of decrement and increment,  it can increase today and tomorrow the price increases, so the increment of bitcoin is dependable on the market determination.

[BITCOIN4X]

I hope the market will recover soon although some of us think this bearish trend will last longer. I very much believe this cycle will end and close the end of the month above $28k, however it would not hurt us to anticipate further declines. There are some doubts about the downside potential, but I believe the opposite is coming. No worse news expected, bitcoin should be priced higher towards the end of August.

[JoyMarsha]

Let me hear from you guys, what do you think of the fate of $25,000 this time?

The fate of the $25k price tag of bitcoin is not properly clear how it will go or last. Whether it would stay down or go above it. But if we go by what other price of bitcoin has displayed, it is possible to say the fate of the $25k would come into play and the same way possible to remain at that price for long. I said that because the bitcoin price of $28k-$30k lasted for many months before it falls below the $4k difference($26k)

Now, that the bitcoin price is at $26k, it can fluctuate within the range of $25k-$26k for a month or two before we can think of seeing it skyrocket to a higher amount or a lesser amount.

In a nutshell, I think we'll keep seeing bitcoin for $25k-$26k until the end of this month or the beginning of next month

[lionheart78]

I hope the market will recover soon although some of us think this bearish trend will last longer. I very much believe this cycle will end and close the end of the month above $28k, however it would not hurt us to anticipate further declines. There are some doubts about the downside potential, but I believe the opposite is coming. No worse news expected, bitcoin should be priced higher towards the end of August.

As far as I know, we are already in a new cycle starting with a bear market.  I also hope that the market will recover soon or if not soon, the halving will be enough catalyst to swing the trend to a bullish trend marking the start of the Bitcoin campaging to a new height(ATH).

Although I am not confident that Bitcoin will recover soon, I hope that the market will stay sideway and not do another dip down to sub $20k.  It this happen, the Bitcoin market will take a heavy toll and those anti-Bitcoin will start their noise again saying "I told you".  But although the market looks grim, this is the best time to accumulate at a lower price.  So lets take our chance to get Bitcoin at a discounted price.

[Ojima-ojo]

Your chart is pointing down to 18,556 and that could mean a very bearish time but I don't know what month it could be or even this year. But your speculation for $25k is very possible with the drop already the price could still slowly drop as the effect of the shedding of 4,000 is still felt in the market, that is making weak hands to drop more coins in fear. It is all speculative but the real fact is Bitcoin will profit those who hold till the new dawn of halving next year.

At the moment, 25k seems to be the resistant price right now after Bitcoin fall sharply by shading almost 4k from its previous price of around 30k-31k this has been a significant fall in price that has sparked up a lot of reactions from various quarters but then also we have to try as much as possible not to be overwhelmingly convinced that the price of Bitcoin will go in a particular direction because many markets analysts have speculated that there will be a further drop in the price of Bitcoin but to me I believe this is the lowest low we can get before the next halving, although the price may touch 25k on several occasions but I don't think the price of bitcoin will go below that benchmark.


This is the best discounted Bitcoin price for a long time and it may not happen that we see such discount in Bitcoin price for a long time from now. But then also we have to be aware that due to the volatility of the price, anything can still happen as what becomes of the price whether it moves upward or downward no one can tell.

[_BlackStar]

Your chart is pointing down to 18,556 and that could mean a very bearish time but I don't know what month it could be or even this year.

I wouldn't be that bearish - even if price could eventually dip into that area during the course of the year. I don't expect bitcoin to dump more value and head for another low of support - but it is possible even if at the moment we are just speculating.

I expected more support rather than pessimism from the majority - but some groups definitely expect a deeper drop to the accumulation plan. A deeper decline is possible - but only if bitcoin is really hit by worse issues.

[Mahanton]

Your chart is pointing down to 18,556 and that could mean a very bearish time but I don't know what month it could be or even this year. But your speculation for $25k is very possible with the drop already the price could still slowly drop as the effect of the shedding of 4,000 is still felt in the market, that is making weak hands to drop more coins in fear. It is all speculative but the real fact is Bitcoin will profit those who hold till the new dawn of halving next year.

At the moment, 25k seems to be the resistant price right now after Bitcoin fall sharply by shading almost 4k from its previous price of around 30k-31k this has been a significant fall in price that has sparked up a lot of reactions from various quarters but then also we have to try as much as possible not to be overwhelmingly convinced that the price of Bitcoin will go in a particular direction because many markets analysts have speculated that there will be a further drop in the price of Bitcoin but to me I believe this is the lowest low we can get before the next halving, although the price may touch 25k on several occasions but I don't think the price of bitcoin will go below that benchmark.


This is the best discounted Bitcoin price for a long time and it may not happen that we see such discount in Bitcoin price for a long time from now. But then also we have to be aware that due to the volatility of the price, anything can still happen as what becomes of the price whether it moves upward or downward no one can tell.

Not a resistant price but rather its strong support on which the price didnt fell down below this level which does means that it is really that holding.Unless if there would be another set of fud or negative news which would
really be making the price would be dropping into those points which we didnt really anticipate for it to happen. If ever the price would be hitting below 25k then we might be seeing 23k next and possible worst we would be going back on $20k. Well, im not really that close minded about the probabilities on which i do believe on something more lower considering that there might be still that last dip or decline before the price would be starting to recover and reaching out 40k to 50k as we are fast heading or approaching with the halving events on which we know that after that we would really be seeing that bull run. Although it wont really be an assurance on when it would be happening but at least you had already secured yourself on the bottom which it would be the wisest thing to be done.           

[Ndabagi01]

Let me hear from you guys, what do you think of the fate of $25,000 this time?

There was a lot of talk about bitcoin going bearish to $26,000, but it came as a surprise because of how quickly everything transpired. I was anticipating it, but not this quickly or unexpectedly. According to the chart you provided, sliding below this price could be imminent. I'm not sure how abruptly, but I believe it will fall below $26,000 again and maintain a resistance at $25,000. We can predict whether the market will be more bearish or bullish at that time based on how the market performs at the time.

[Asuspawer09]

We just don't know how the market of Bitcoin is going to react in the next coming months so the always better strategy here is to dollar cost average, But yes for sure 25k$ is better than buying Bitcoin at 30k$ is much lower and give you a good discount on buying Bitcoin, I mean we cannot really predict the market price of Bitcoin we don't know if it is going to continue to drop in the next coming months, buying when the market price drop we should increase our buying power, probably there are some investors that continue to buy when the price is 25k$ then stop when the price drop to 25k$, I think that was just nonsense since when the price drop we should buy more because we are going to buy more volume.

I mean I would still continue to buy in fact I buy more or let's say buy an extra every time the market price of Bitcoin drops a certain percentage then I buy continue my dollar cost average buying a small amount every 2 weeks. Just to make sure I still buying because the price was just unpredictable it could easily skyrocket at any time.