Challenging the lows, 25.5k and lower possible break here

[Adbitco]

Wondering what peoples sentiment for 2023 is right now, negative, neutral sideways or still aspiring higher.

I still remains neutral about the market and there is no sentiment from my ends, because I know that surely the market  must always have face to drive to i don't know why the panic is much towards the market, and I think this could be the cause of the not creating any changes couples with the selling pressure, i was shocked to see that market dropped to $25k I think before gradually touches 26,500 which think it was a retracement to finally bounces back to 28 and 29k.
But let not be too worried over the price because certainly we must see it bounces back to its previous price before we may witnessed another ATH, currently the market is controlled by fear and uncertainty due to the huge dump of SpaceX who knows. 

[dragonvslinux]

After the collapse of the price below $31,000, the continuation of the price below this level means more selling pressure, especially since some miners and companies need to pay off loan debts, which means that they are forced to sell instead of waiting for a longer time. all of these things make the price stable below $26,000 with the possibility that The decline continues for a longer before the price begins to easily rebound above $42,000.

One thing to point out that not many aren't acknowledging is that for now (as of writing) price remains in a parallel / bullish channel. Granted it's at the very bottom support level of this channel without showing much (or any) signs or a rebound, and no doubt if the support breaks we can see lower prices, but otherwise this 5.5 month consolidation at the top of a trend (from $15K to $25K/$30K) remains a bullish structure.

If we compare this to early 2022, Bitcoin had been in a downtrend for a few months prior to a bear flag style consolidation at the lows for another few months that led to another leg down. Currently Bitcoin has been in an uptrend now for a few months with consolidation at the highs for a few months, that if broken to the upside could quite easily lead to around $50K prices,as a continuation of the uptrend following months of consolidation.

Either that or we'll see a re-test of liquidating around $20K to $23K and effectively a "reset" to a more neutral market, as admittedly between $23K and $25K there is very little volume to support price, even below $26K there is a notable decline. But otherwise to think that miners/companies haven't had months to pay off debts above $25K isn't quite true, with even a fair amount of time above $30K as well.



Personally my main scepticism for further upside remains reclaiming around $28K and $30K where there was a lot of distribution as can be seen by volume profile. I guess either way I'm keeping open minded until $25K breaks, as there remains some bullish structure in the market especially with price reaching considerably oversold levels, even more so than FTX crash that marked a low in the market.

[cryptomaniac_xxx]

Wondering what peoples sentiment for 2023 is right now, negative, neutral sideways or still aspiring higher.

I still remains neutral about the market and there is no sentiment from my ends, because I know that surely the market  must always have face to drive to i don't know why the panic is much towards the market, and I think this could be the cause of the not creating any changes couples with the selling pressure, i was shocked to see that market dropped to $25k I think before gradually touches 26,500 which think it was a retracement to finally bounces back to 28 and 29k.
But let not be too worried over the price because certainly we must see it bounces back to its previous price before we may witnessed another ATH, currently the market is controlled by fear and uncertainty due to the huge dump of SpaceX who knows. 

Yes, same here I'm neutral here, I don't think though that we might go down below $25k. There could be pressure, but I'm seeing the bulls trying to defend that $25k and in the last couple of days they actually did it.

But there are so much resistance around $26k level, we have achieved $26,500 but it was again short lived. So let's see, we are entering the last week of this month and so most likely we might maintained that $26k price.

[Adbitco]

Wondering what peoples sentiment for 2023 is right now, negative, neutral sideways or still aspiring higher.

Snip

Yes, same here I'm neutral here, I don't think though that we might go down below $25k. There could be pressure, but I'm seeing the bulls trying to defend that $25k and in the last couple of days they actually did it.

But there are so much resistance around $26k level, we have achieved $26,500 but it was again short lived. So let's see, we are entering the last week of this month and so most likely we might maintained that $26k price.

Exactly, let just watch what this month could birth to because I don't see any signs and strength (signals) to show the market will be negative or positive. All I see from the market is neutral and that may also last for another 30 days and more before either negative or positive.
But at this point investors remains mute or possibly involved in DCA. Probably who knows if that is the best option now for investors or to those who panic over the market.

[WatChe]

Yes, same here I'm neutral here, I don't think though that we might go down below $25k. There could be pressure, but I'm seeing the bulls trying to defend that $25k and in the last couple of days they actually did it.

But there are so much resistance around $26k level, we have achieved $26,500 but it was again short lived. So let's see, we are entering the last week of this month and so most likely we might maintained that $26k price.

The price of Bitcoin is very much stable at 26k and there is very rear chance that price may drop below that. The main reason of my believe is the halving that is coming up next year. Its just a small dip and there is strong possibility that bitcoin very soon regain its lost price of 30k. We just need to be patient for this price correction and don't need to sell our holdings in panic.

[STT]

Stable or the calm before the storm,  its indecisive to me and Im not sure which direction it will take especially.    I do take the point that higher lows are still indicative of a bullish market however subdued:

easily rebound above $42,000.

Im not sure of 42k this year but I find that more probable then making a new low or a low below that seen since 2022.   Autumn can be a rough market but didnt we already have that action already occur, if BTC is already tried and tested in its selling capacity then it may not move much further down.
   I think our realistic range remains 24k to 32k until it breaks and proves some strength past either of those boundaries.   We are negative within that range but we are able to maintain prices above 2022 August and more recently February and that might be enough for now to hold and wait for more positive sentiment across all markets etc.

weekly bars, blue is 1 year and yellow is 200 week or 3 years 10 months  quite long term.  Both averages are rising which Im told is most important consideration.


Bitstamp VOL OBV

[JoyMarsha]

OP, despite the drop in the price of Bitcoin, I am still bullish about Bitcoin towards the end of the year. It doesn't matter whether the price drop is so bad, but the market recovery can sometimes be very quick too. Despite the fact that Bitcoin is currently in the #26k zone, it can also quickly spike to $30k+ in just a week or less (I guess), and I believe that it's possible that towards the end of 2023, we can see Bitcoin around $40k-$50k.

In reality, it doesn't take time for Bitcoin to spike in price. It can spike or decline in price within days. That's how it went from its previous price of $30k-$25k within days, after fluctuating within the range of $28k-$30k for months.

Bitcoin spiking in price to $40k-$50 is what I can't foresee happening in the last quarter of the year due to how the bearish market seems not to go above $30k for months before it falls to this present price of $26k.

What I can actually foresee at the end of the year is $30k-$35k of bitcoin price. Any price above it would come around next year(2024)

[bbc.reporter]

Similar to what I have mentioned before, the people are presently witnessing disbelief in this market. They speculate that this is only another bear market rally that will certainly dump later. I shake my head on this because despite every bad news about the economy, bitcoin has been going up since November.

However, what might cause a dump is Mtgox's repayment of $4.3 billion in bitcoins. It is very much certain that the receivers of these coins are very excited to sell some of them after being frozen for many years hehe.



Mt. Gox creditors are set to receive payouts in October 2023.
142,000 BTC, currently worth $4.3 billion, are set to return to general circulation.

Source https://www.ccn.com/news/mt-gox-repayment-bitcoin-price/

[laurenB7742]

-

However, what might cause a dump is Mtgox's repayment of $4.3 billion in bitcoins. It is very much certain that the receivers of these coins are very excited to sell some of them after being frozen for many years hehe.



Mt. Gox creditors are set to receive payouts in October 2023.
142,000 BTC, currently worth $4.3 billion, are set to return to general circulation.

Source https://www.ccn.com/news/mt-gox-repayment-bitcoin-price/

Regarding the issue of Mt.gox, do you believe this time they will actually compensate their victims or will continue the story of empty promises they have made over the years? Furthermore, as in previous announcements, many victims want to receive that compensation in USDT or other crypto, not just bitcoin as an option. So we still don't know if it will really affect the market or not.
Personally, I don't believe Mt.gox will return those bitcoins, they will keep promising and will find a way to prolong this story much longer.

[Pierre 2]

I personally considered 26k low enough so started buying a bit. But I am worried that it can go even lower. I am not going to sell Bitcoin I bought at this level for sure, as many holders, next year these positions will all look too cheap. But carrying the burden here if it goes around 20k will be sad. But anyways I will keep on accumulating more if Bitcoin price hits 19-20-21k. Pretty sure institutions will buy there too.

[Silberman]

OP, despite the drop in the price of Bitcoin, I am still bullish about Bitcoin towards the end of the year. It doesn't matter whether the price drop is so bad, but the market recovery can sometimes be very quick too. Despite the fact that Bitcoin is currently in the #26k zone, it can also quickly spike to $30k+ in just a week or less (I guess), and I believe that it's possible that towards the end of 2023, we can see Bitcoin around $40k-$50k.

In reality, it doesn't take time for Bitcoin to spike in price. It can spike or decline in price within days. That's how it went from its previous price of $30k-$25k within days, after fluctuating within the range of $28k-$30k for months.

Bitcoin spiking in price to $40k-$50 is what I can't foresee happening in the last quarter of the year due to how the bearish market seems not to go above $30k for months before it falls to this present price of $26k.

What I can actually foresee at the end of the year is $30k-$35k of bitcoin price. Any price above it would come around next year(2024)

I think 30k to 35k is the very best we can expect out of bitcoin at the end of the year since there was simply not enough buying pressure for bitcoin to go above the 30k level, however if we saw a fast recovery at the end of the year we may surpass it, but not for long, however it is entirely possible the current levels could be maintained for a few months as I have noticed that if the price of bitcoin does not recover immediately after a dump then it takes bitcoin some time to recover.

[pooya87]

My perspective hasn't really changed much, I still think the global economy is in too much of an uncertain way that is also seeping into the bitcoin market affecting how people react. We have seen how the growing recession in US and EU over the past year has put a sell pressure on the market causing the drop to this point and also preventing the start of the next bull cycle. This has not changed so far. So either the recession has to end (which is not going to happen since energy price is still high among other reasons) or "they" have to run out of bitcoins to sell which will take longer.

In short 2023 will continue being uncertain with sideways and sometimes unpredictable moves like the recent drop below $30k.

[crwth]

Once it goes to the lower bound range, it's going to be a continuous selling pressure. With this in mind, I think it's best to set a certain price that you would buy. Maybe accumulate it with continuous buying for specific step ranges.

There is upcoming pressure that would go to the market, so it's best to be ready. The possible selling would be in October so, why not take advantage of it now? If you think a lot of people would sell.

[GeorgeJohn]

Just opinion maybe Bitcoin cannot make a new lower and go to positive at 27-28K level again and going to side away again after that but since next month is September and usually a bleed month for bitcoin Im not sure its going to above 30K level

I hope that you are aware that the price of bitcoin is not predictable and is not something we can depend on, so bitcoin have its price and you can sleep and before you wake-up bitcoin price have accelerated, so therefore nobody can predict accurately when and how bitcoin price comes about, hoping that bitcoin can get accelerated in the month of September is not something I know full well, it can be tomorrow the price of bitcoin  falls drastically beyond our expectations or predictions and such is applicable to rising aspect of bitcoin  where by the situation of the price can rise tomorrow due to the market demand get accelerated or is of higher potential than the supply. So this two factors is strongly behind the elements that makes bitcoin to get increased and get decreased.

[Fatunad]

Just opinion maybe Bitcoin cannot make a new lower and go to positive at 27-28K level again and going to side away again after that but since next month is September and usually a bleed month for bitcoin Im not sure its going to above 30K level

I hope that you are aware that the price of bitcoin is not predictable and is not something we can depend on, so bitcoin have its price and you can sleep and before you wake-up bitcoin price have accelerated, so therefore nobody can predict accurately when and how bitcoin price comes about, hoping that bitcoin can get accelerated in the month of September is not something I know full well, it can be tomorrow the price of bitcoin  falls drastically beyond our expectations or predictions and such is applicable to rising aspect of bitcoin  where by the situation of the price can rise tomorrow due to the market demand get accelerated or is of higher potential than the supply. So this two factors is strongly behind the elements that makes bitcoin to get increased and get decreased.

Its always be and this had been since in the beginning on which there's no way that it could really be predictable. Just to take some look with the recent events on the price had dipped and bottomed on 25k which lots of sentiments and speculations circling around and saying that the price might hit up even more lower than 25k or even seeing that 22k if ever it would broke out that strong support but look at on where we are now?
Lots had been shocked and havent able to anticipate such price increase knowing that this market isnt really that totally influenced by sentiments or fundamentals but it turns out those sudden news did really make out that kind of move on which tons hadnt been able to expect for it to happen.Technical analysis could really be showing up signs and possibility of those price movements but we arent that dumb on not to say that not all the time
these kind of technical approaches are always right most of the time. It could easily fucked out those analysis in a blink of an eye.

[Frankolala]

 The correction in bitcoin price to 25k+ is what have been bothering so many investors and people have begin to look out to see if the price will pump back soonest but it hasn't, rather the market has been sideways at there is no increase in price.

We are approaching a new month and I hope that we hear some good news that will help pump the price,if not we might still be on the 25k+-26k+ range because the economy situation is also affecting bitcoin market. I do hope that October will be a good month for bitcoin and we might see the price of bitcoin at 40k at the end of this year. The halving will have a lot more impact on the price.

[TravelMug]

The correction in bitcoin price to 25k+ is what have been bothering so many investors and people have begin to look out to see if the price will pump back soonest but it hasn't, rather the market has been sideways at there is no increase in price.

We are approaching a new month and I hope that we hear some good news that will help pump the price,if not we might still be on the 25k+-26k+ range because the economy situation is also affecting bitcoin market. I do hope that October will be a good month for bitcoin and we might see the price of bitcoin at 40k at the end of this year. The halving will have a lot more impact on the price.

Not sure if you have check the price though, as in the last 24 hours, we have a good pump.

Just check it out your self, the price is $27k++ already. But I do agree that as we approach the last quarter of the year, we might see a price increased specially as we will approach the halving already.

And so it's very interesting where we will go, I'm seeing maybe we can reach at least $35k-$40k or close to it at the end of the month.

[kentrolla]

Users have mixed emotions, one day predict that Bitcoin will go bonkers and once they is a drop they speculate bitcoin to go below $15k. People are really puzzled here as we have so called experts who are just a price fluctuation away from terming the market as bullish or bearish. I feel bitcoin will gradually pump up as it's been over three months that Bitcoin has been mostly neutral or slightly declining trend still it has held its ground which is an indicator that big thing awaits for Bitcoin but if falls around $15k then we will have extended bearish market.

[Aanuoluwatofunmi]

The correction in bitcoin price to 25k+ is what have been bothering so many investors and people have begin to look out to see if the price will pump back soonest but it hasn't, rather the market has been sideways at there is no increase in price.

There's nothing to worry much about with the current situation as long as you're dealing with bitcoin, there's always that confidence that the market will rise whenever it falls no matter the conditions attached, people are still holding and buying more to get prepared towards the bull in anticipation.

We are approaching a new month and I hope that we hear some good news that will help pump the price,if not we might still be on the 25k+-26k+ range because the economy situation is also affecting bitcoin market. I do hope that October will be a good month for bitcoin and we might see the price of bitcoin at 40k at the end of this year. The halving will have a lot more impact on the price.

Just the recent sudden pump from $25,000 to $27,000 is a strong indication that we should expect more coming sooner which may be upto the rate of over $30,000 and we keep moving gradually from there till bullrun begins.

[Captain Corporate]

And as we can see from the increase, this was wrong. I have to say that expecting lows on bitcoin is something that can happen and people can be right about it time to time, but that doesn't mean that they will be right at all times. I think it should be important to remember that we are not going to end up with a good return all that easily so sometimes the falls happen. But knowing when that will happen is a difficult one, I think it should be important to remember that we are going to end up with a good result one way or another, and this was one of those good times. Price has gone up good enough and the result is not that bad at all, so we should be happy about it.