FALLING FALLING!

[FASTPROFITTRADER]

Have you seen a double top on the weekly chart? what price will we go down to?Have you been hedging for a long time?

[AprilBrown]

Hy there i can see your post and i must say

Additionally, I don't have personal experiences or the ability to engage in financial transactions, so I haven't been involved in hedging or any trading activities.

If you're looking for insights into financial markets, technical analysis, or price predictions, I recommend consulting current market data, professional financial advisors, or utilizing specialized financial platforms and tools that provide up-to-date information and analysis. ADP Workforce
 
Thanks and regards
AprilBrown

[BenCodie]

Hedging? Balancing is better imo. Keeping a good balance of assets and adjusting when opportunities arise to do so. Waiting for opportunities that will allow reduced price entries, lower DCA price. That's a better way IMO, than looking at it as hedging. We are already hedging against fiat by using Bitcoin over Fiat anyway. Unless, hedging with another instrument is what you mean?

Hy there i can see your post and i must say

Additionally, I don't have personal experiences or the ability to engage in financial transactions, so I haven't been involved in hedging or any trading activities.

If you're looking for insights into financial markets, technical analysis, or price predictions, I recommend consulting current market data, professional financial advisors, or utilizing specialized financial platforms and tools that provide up-to-date information and analysis.

Thanks and regards
AprilBrown

The style of this post is very refreshing, welcome to the forum AprilBrown. For future reference, you don't need to format your post like an email or personal message if you don't want to but feel free to do as you wish.

Thanks and regards
BenCodie

[logfiles]

Have you seen a double top on the weekly chart? what price will we go down to?Have you been hedging for a long time?

Considering other factors as well as the 200-day EMA, I think there is no going further down for now. The price touched the 200 EMA and is show signs of bouncing off it just like the previous bounce in June and also respecting the trendline.

We are probably looking at a consolidation phase

[jeraldskie11]

Have you seen a double top on the weekly chart? what price will we go down to?Have you been hedging for a long time?

Considering other factors as well as the 200-day EMA, I think there is no going further down for now. The price touched the 200 EMA and is show signs of bouncing off it just like the previous bounce in June and also respecting the trendline.

We are probably looking at a consolidation phase

I appreciate your TA but your POI's are very far from the current price in the market. I think it's better to plot only the POI you think the price will go to. I'm not using EMA in my trade now but it can also be used as dynamic support and resistance which is confluence with SNR. Additionally, the trend in the weekly timeframe is clearly bullish so what we see in the market is just a retracement. We just have to wait until market get enough liquidity to fuel the price higher and create another high. Possibly the price will hit $35k to $37k base on my analysis.

[ShinyStarPrincess]

The most concerning Situation is BNB, The 206 Support is very near

[Unbunplease]

It is well known that the halving will occur in April 2024. If we look at history, usually around this period there is a final reset before a parabolic rise begins. I don't think the bitcoin price will drop below 23,000. There are no prerequisites for that yet.

[Hamza2424]

The most concerning Situation is BNB, The 206 Support is very near

I don't know why many people are concerned about the BNB as I was reading and going through the topics created in this section in back to back 2 topics and 1 dedicated topic on the BNB recovery went through my view. Assuming the most particular reason that Binance is in the hype of you can top news due to the cases and SEC, fuds etc etc.. So I can give a simple answer for the BNB and support and future recovery as far as Binance exists BNB will have the potential to stand alone to the position of the top 10.

Binance has issues in the USA but they have some legal licenses in other countries so nothing to worry about here, There is no centralized exchange support just a hope hitter for those who invested in the BNB I think they won't make mistakes again.

[TravelMug]

It is well known that the halving will occur in April 2024. If we look at history, usually around this period there is a final reset before a parabolic rise begins. I don't think the bitcoin price will drop below 23,000. There are no prerequisites for that yet.

It's just weird though that after this, the price did go on a recovery and bounce back to $27k which is good as we thought that the price is going down way below $25k. But right now we have another downturn? what gives? I know that the market is very volatile, but there could be some negative news that affected the price in the last 24 hours.

So let's see if the price will go to $23k as you have predicted, if yes then it's a good buying opportunity again.

[cute nmp]

Glad I'm not the only one that spot that structure on the weekly timeframe. Think BTC will dip lower soon the price could deep lower to 16k or more . Hoping for the best but I don't think i will be buying more altcoins now cause of the double top structure afraid it may be a monthly retest which is signalying a downtrend continuation.

[Coin_trader]

Glad I'm not the only one that spot that structure on the weekly timeframe. Think BTC will dip lower soon the price could deep lower to 16k or more . Hoping for the best but I don't think i will be buying more altcoins now cause of the double top structure afraid it may be a monthly retest which is signalying a downtrend continuation.

Yeah, there’s a double top but there’s also a double bottom now formed since the price consolidated already on the 26K to 27k range price which is the previous bottom of the double top that you and OP pertaining. It’s a good sign that the price is slowing down now that there’s no bad news in crypto that will affect the price to move lower.

It’s too early for now to speculate more lower price since the 25K price support is still remains untouchable until now.

[SamReomo]

Glad I'm not the only one that spot that structure on the weekly timeframe. Think BTC will dip lower soon the price could deep lower to 16k or more . Hoping for the best but I don't think i will be buying more altcoins now cause of the double top structure afraid it may be a monthly retest which is signalying a downtrend continuation.

It’s too early for now to speculate more lower price since the 25K price support is still remains untouchable until now.

I agree with you and I also think that as long as $25k support level isn't crossed the price will continue to go in upward direction. I also doubt that Bitcoin may hit a crash and the price may drop below $22k because it's the month of September and it has always been a worst month for Bitcoin. So far its value is still above $25k and that's kind of a good sign for us but still in the month of September the price may see another dip that could bring its value once again to $21k or even below that. Let's see what's going to take place in the month of September and we should also keep in mind the the case of SEC delaying Bitcoin ETF's that's worsening the conditions of the market. I believe that we may see another dip if things like that continue in the market, and there's a chance that the price may drop below the support level of $25k in this month.

[palle11]

Glad I'm not the only one that spot that structure on the weekly timeframe. Think BTC will dip lower soon the price could deep lower to 16k or more . Hoping for the best but I don't think i will be buying more altcoins now cause of the double top structure afraid it may be a monthly retest which is signalying a downtrend continuation.

Douple top shows a resistance level depending on the time and now if it has appeared in a weekly chart that means a huge drop will occur to shield off other over value of bitcoin before another circle will begin until halving happens  Just as this will be happening to bitcoin, it will also have influence on altcoins and some of them won't get back to their initial price, some will become shit coins in the market afterwards.

[dunfida]

Glad I'm not the only one that spot that structure on the weekly timeframe. Think BTC will dip lower soon the price could deep lower to 16k or more . Hoping for the best but I don't think i will be buying more altcoins now cause of the double top structure afraid it may be a monthly retest which is signalying a downtrend continuation.

Yeah, there’s a double top but there’s also a double bottom now formed since the price consolidated already on the 26K to 27k range price which is the previous bottom of the double top that you and OP pertaining. It’s a good sign that the price is slowing down now that there’s no bad news in crypto that will affect the price to move lower.

It’s too early for now to speculate more lower price since the 25K price support is still remains untouchable until now.

We are now hovering on 25k levels and lets see if this one could hold strong or would really be totally on having some breakout which we know that indicators could neither be that precise or not. Forming out double-tops double bottom does indicate that it is really that indeed touching up a resistance or a strong support which it would really be indicating whether it would be able to hold up long or would really be having that total breakdown and it would really be entirely be depending on how this market behaves or reacts whether if theres some backed news or having none.This is the main thing that we dont really like on this marke is that it could really easily fucked up on whatever analysis that the entire community had been molding. No matter how good it is and no matter how established it would be but still it wont really be giving out that kind of assurance when it comes to precision and thats why it would really be just that wise on having that back up plans whenever the price might have some break out or not. Now that we are hovering on 25k which we cant really say that this one would hold and make out some bounce or would be totally be that having that break out and would go down even as low of 23k which it would be the next support. Somewhat its true that there are really that having the significance when it comes to fundamentals and news around which would really be neither a catalyst or would really be a reason on why the price could move up that way. If ever we do see some positive news then it would really be depending whether it would be negative or positive basing up on that one and since not all the time which the market or this space is really that reactive to that.

[JeremyW99]

Here's an updated analysis of the BTC chart for Sept 2 (following the recent drop). Shows the liquidation ranges and important near-term levels.

Video: https://youtu.be/zjvVYA3NVbQ?si=xWUuPl9rXygR1xq9

[darewaller]

It is well known that the halving will occur in April 2024. If we look at history, usually around this period there is a final reset before a parabolic rise begins. I don't think the bitcoin price will drop below 23,000. There are no prerequisites for that yet.

It's just weird though that after this, the price did go on a recovery and bounce back to $27k which is good as we thought that the price is going down way below $25k. But right now we have another downturn? what gives? I know that the market is very volatile, but there could be some negative news that affected the price in the last 24 hours.

So let's see if the price will go to $23k as you have predicted, if yes then it's a good buying opportunity again.

Nothing is weird here but it's normal that Bitcoin is most of the times unpredictable and can move in any given direction. The less you expect it, the more it will happen. If you are not convinced, maybe what I will say to you will make you feel contented. Okay there is a bad news about Binance. It is said that it will stop minting BUSD and now remove the said stablecoins on their exchange.

I know it's not about BTC but it might have an in-direct effect to it like other negative news that we witnessed on the past. I don't expect that $23k will come so it might really come but I'm not alarmed with it. As you said, it's an opportunity (not a disadvantage.)

[logfiles]

Have you seen a double top on the weekly chart? what price will we go down to?Have you been hedging for a long time?

Considering other factors as well as the 200-day EMA, I think there is no going further down for now. The price touched the 200 EMA and is show signs of bouncing off it just like the previous bounce in June and also respecting the trendline.

We are probably looking at a consolidation phase

I appreciate your TA but your POI's are very far from the current price in the market. I think it's better to plot only the POI you think the price will go to. I'm not using EMA in my trade now but it can also be used as dynamic support and resistance which is confluence with SNR. Additionally, the trend in the weekly timeframe is clearly bullish so what we see in the market is just a retracement. We just have to wait until market get enough liquidity to fuel the price higher and create another high. Possibly the price will hit $35k to $37k base on my analysis.

UPDATE:

So the Bitcoin price decided to obey the 200 EMA as a support level and bounced off perfectly invaliding OP's FUD. I think we might see some retracement towards the $40K zone.



The POIs are just for reference at a later date depending on market movement and given the higher time frame, they are also further apart unlike those for shorter time frames. I mean, look when we last discussed this. Almost 3 months ago 

[jeraldskie11]

Have you seen a double top on the weekly chart? what price will we go down to?Have you been hedging for a long time?

Considering other factors as well as the 200-day EMA, I think there is no going further down for now. The price touched the 200 EMA and is show signs of bouncing off it just like the previous bounce in June and also respecting the trendline.

We are probably looking at a consolidation phase

I appreciate your TA but your POI's are very far from the current price in the market. I think it's better to plot only the POI you think the price will go to. I'm not using EMA in my trade now but it can also be used as dynamic support and resistance which is confluence with SNR. Additionally, the trend in the weekly timeframe is clearly bullish so what we see in the market is just a retracement. We just have to wait until market get enough liquidity to fuel the price higher and create another high. Possibly the price will hit $35k to $37k base on my analysis.

UPDATE:

So the Bitcoin price decided to obey the 200 EMA as a support level and bounced off perfectly invaliding OP's FUD. I think we might see some retracement towards the $40K zone.

Not only that, we can also see a strong support to that area. Dynamic support and resistance have lower probability compared to key levels. If you change your time frame, also the EMA but with key levels no matter what time frame is that it remains the same.

I don't think so that we are still in the bearish market since you said it's retracement but I can say that those are strong supply which there's a high chance that the price would respect that area.

[TravelMug]

Have you seen a double top on the weekly chart? what price will we go down to?Have you been hedging for a long time?

Considering other factors as well as the 200-day EMA, I think there is no going further down for now. The price touched the 200 EMA and is show signs of bouncing off it just like the previous bounce in June and also respecting the trendline.

We are probably looking at a consolidation phase

I appreciate your TA but your POI's are very far from the current price in the market. I think it's better to plot only the POI you think the price will go to. I'm not using EMA in my trade now but it can also be used as dynamic support and resistance which is confluence with SNR. Additionally, the trend in the weekly timeframe is clearly bullish so what we see in the market is just a retracement. We just have to wait until market get enough liquidity to fuel the price higher and create another high. Possibly the price will hit $35k to $37k base on my analysis.

UPDATE:

So the Bitcoin price decided to obey the 200 EMA as a support level and bounced off perfectly invaliding OP's FUD. I think we might see some retracement towards the $40K zone.

Not only that, we can also see a strong support to that area. Dynamic support and resistance have lower probability compared to key levels. If you change your time frame, also the EMA but with key levels no matter what time frame is that it remains the same.

I don't think so that we are still in the bearish market since you said it's retracement but I can say that those are strong supply which there's a high chance that the price would respect that area.

Right, and just like that, those FUD by the OP (intentionally or not), was invalidated, and it just shows how Bitcoin market is, we really don't know where the price will go short term, so what's more in long term? And with that, prices is moving around the $36k-$38k, so that will be the resistance/support line for now. But we will see, October changes the landscape, investors pouring their money pushing the price to the levels that we have right now. And sometimes it's really good to comeback to this not so old thread and see the hit or miss prediction, or in this case the FUD by some members.

[sheenshane]

we really don't know where the price will go short term, so what's more in long term?

I tend to agree with this, I didn't monitor the market condition for about two months but I expect that the market will have a bullish trend, especially in this last quarter of the year.  Which is you're right to focus on the broader, long-term perspective.

Short-term fluctuations may remain unpredictable, we don't know yet where the price is heading, and it could be those predicting the market price will make FUD and won't help the market.

However, IMO, the market might seem more likely that we're encountering strong supply zones rather than a prolonged bearish trend.  The consistency of price respect for those areas strengthens the case for their significance.