This bullish momentum - Breaking through the $35,000 mark

[michellee]

We will see later. Meanwhile, Bitcoin's highest price is currently still at $37k, even almost touching $38k. The next Bitcoin price target could be at the $ 40k- $ 45k level, as Bitcoin is almost touching $38k. Sooner or later, a Bitcoin Spot ETF will be approved. It's just a matter of time.

We don't need to wait because it seems that demand for Bitcoin Spot ETFs will get stronger. And it seems the SEC can't delay its approval any longer either. And if that can happen in December this year, Bitcoin could easily reach above $40k. It will probably exceed $45k.

It's better for us to enjoy the current Bitcoin price movement and remember to keep accumulating more Bitcoin. That is if you still want to use this time to collect Bitcoins. But if you feel you have had enough, you just have to wait for the time to sell Bitcoin and take the profits.
​

[Gozie51]

It's better for us to enjoy the current Bitcoin price movement and remember to keep accumulating more Bitcoin. That is if you still want to use this time to collect Bitcoins. But if you feel you have had enough, you just have to wait for the time to sell Bitcoin and take the profits.
​

It can only be enough to accumulate bitcoin if you don't have money to buy more but for those who have money, it is time to keep DCA on because the bull this season is really expected to either hit the 6 digit area.

However, I won't advise taking loan to invest in btc If you don't have enough just invest as little as you can ride with the bull next year.

[Wapfika]

It's better for us to enjoy the current Bitcoin price movement and remember to keep accumulating more Bitcoin. That is if you still want to use this time to collect Bitcoins. But if you feel you have had enough, you just have to wait for the time to sell Bitcoin and take the profits.
​

It can only be enough to accumulate bitcoin if you don't have money to buy more but for those who have money, it is time to keep DCA on because the bull this season is really expected to either hit the 6 digit area.

However, I won't advise taking loan to invest in btc If you don't have enough just invest as little as you can ride with the bull next year.

Buying near the current cycle peak is not a good idea even on DCA, much better to wait for a minor correction after the big green candle before adding more coins to your stash. This way you can guarantee more average price to the lowest possible buying price amount.

Margin is available in exchange which is more suitable to use than borrow money with high interest. Margin on the forum gives you the ability to increase your capital by just adding minimal risk depending on the amount you are borrowing.

[Winterfrost]

Overall, the next targets for BTC can be placed at $36,000 and $38,000, respectively. In case of profit booking momentum, support levels can be placed at $33,000 and $30,000, respectively.

I expect the price of Bitcoin to go higher than that. However, the support levels are for those who are into Bitcoin for short term gains and for those who have been holding for long, it depends on your income and how long you’ve been holding before you chose to sell.

But I disagree with your point that the reason for this bullish momentum is “increased optimism surrounding the potential approval of the Bitcoin Spot ETF by the SEC.” We have already noted in previous posts that the impact of the approval has diminished very much and is unlikely to be the reason of Bitcoin's current rise.

What an interesting comment. I believe it is a false assumption that a spot ETF will immediately raise the demand for Bitcoin and contribute to the potential rise of the price of Bitcoin which is leading to the Bullish moment we see now. Since 2017  all the bitcoin spot ETFs have been delayed and rejected I dont know why this current one seems differently and many persons are certain that it will be accepted. I hope to see the outcome on the last day.

[michellee]

It's better for us to enjoy the current Bitcoin price movement and remember to keep accumulating more Bitcoin. That is if you still want to use this time to collect Bitcoins. But if you feel you have had enough, you just have to wait for the time to sell Bitcoin and take the profits.
​

It can only be enough to accumulate bitcoin if you don't have money to buy more but for those who have money, it is time to keep DCA on because the bull this season is really expected to either hit the 6 digit area.

However, I won't advise taking loan to invest in btc If you don't have enough just invest as little as you can ride with the bull next year.

The DCA method will still be recommended for those who have money, especially now, which is still a good time to do it. But wait after the correction comes to start investing.

We have to be patient because after the halving moment, there will likely be a movement that will provide an opportunity for Bitcoin to increase. And if that happens, yes, we expect Bitcoin to reach the 6-digit area.

It's better to use a little money but regularly buy Bitcoin than to take out a loan. We don't know when Bitcoin will rise but we have to pay the loan every month. If we don't have enough income to pay the loan, it will clearly be a burden on us.

[davis196]

Last week was highly anticipated for Bitcoin (BTC) enthusiasts, as it saw the price surge above levels not seen in over a year. Taking a look at the moving averages, the MA-20 (in red) has shown significant strength compared to the MA-50 (in orange) and has managed to avoid any negative trends this month. This suggests a positive sentiment for the world's largest digital asset.
On the technical front, the RSI (Relative Strength Index) is poised for a potential move into the overbought territory. This might lead to profit-taking as BTC could reach new yearly highs once again.

This bullish momentum, breaking through the $35,000 mark, is largely attributed to the growing optimism surrounding the potential approval of a Bitcoin Spot ETF by the SEC.

Overall, the next targets for BTC can be placed at $36,000 and $38,000, respectively. In case of profit booking momentum, support levels can be placed at $33,000 and $30,000, respectively.

Frankly speaking, I couldn't care less about MA-20 or MA-50. I think that the price will start doing down back to 30K USD.
I don't understand the growing optimism about the Bitcoin Spot ETF approval. I'm usually pessimistic, when there's too much optimism on the markets. I have the feeling that the Bitcoin ETF won't be approved and this will cause a price crash back to 20-25K USD.
In 2024, there will be a short term recession, which will cause price drops across all financial markets. I don't believe that Bitcoin will turn into a legit safe heaven asset. I'm still optimistic about 2025, though.

[Hypnosis00]

The current pump is quite satisfying to see compared to the previous months where it was just stuck below $30k but it was not yet convincing enough to say and think that we are in a bullish state already. Maybe my set of price targets to say that the market is bullish when it reaches $50k but also because it was normally we saw bullish after halving. Maybe I was wrong but we won't be confident enough that there is no dump happen in the coming as surely it comes. However, it was not like in the previous correction that it fell badly.

[boltz]

The current pump is quite satisfying to see compared to the previous months where it was just stuck below $30k but it was not yet convincing enough to say and think that we are in a bullish state already. Maybe my set of price targets to say that the market is bullish when it reaches $50k but also because it was normally we saw bullish after halving. Maybe I was wrong but we won't be confident enough that there is no dump happen in the coming as surely it comes. However, it was not like in the previous correction that it fell badly.

So far the current rise in price looks healthy and charts are healthy as well but I have once concern because we couldn't break the 38k$ resistance and right now , the consolidation on that price is kinda huge and not so easy to break. Besides this , the 40k$ range looks unbreakable right now but I'm sure that if we go over 38k , huge resistance walls will go away automatically in order to prepare Bitcoin for the big pump that is to come for next year. Until then , we can only observe what Bitcoin wants to do for the rest of the year.

[SmartGold01]

I have been saying 42k by nov 30 - dec 1. and 48k by dec 31 - jan 1
some jan profit taking down to 40k and a slow up tick grind toward the ½ ing in late march early april

There is no doubt about the what you speculated concerning the price, was actually thinking could see $50k before 31 Dec and expect the unexpected beginning from March to June next year.
Though my expected price for the halving is not above $90k to $100k, so whomever that must be involved of the rally still have some chances to buy since the current price is good entry point to acquire some reasonable values of bitcoin.

[Aanuoluwatofunmi]

Some were already saying various reasons that comes behind the bear that led us to $35,000 when we are still anticipating for more bull market althrough this season, but things cannot work sometimes we way we expect because bitcoin itself has to be volatile before we can have the beauty in the market buying and selling, we are expecting to see more of bull althrough out this year and very soon the market price of $40,000 will reset it history, but before then, there might be pump and dumps as just from the way we are currently having now.

[justdimin]

Frankly speaking, I couldn't care less about MA-20 or MA-50. I think that the price will start doing down back to 30K USD.
I don't understand the growing optimism about the Bitcoin Spot ETF approval. I'm usually pessimistic, when there's too much optimism on the markets. I have the feeling that the Bitcoin ETF won't be approved and this will cause a price crash back to 20-25K USD.
In 2024, there will be a short term recession, which will cause price drops across all financial markets. I don't believe that Bitcoin will turn into a legit safe heaven asset. I'm still optimistic about 2025, though.

I do not have that much hope for the btc ETF neither, but I do have hope for btc itself, even without the ETF, the price will go up for sure. Think about, actual good things happened in the bitcoin world during the bear period and the price still didn't go up, and right now during the most useless period, when nothing happened, it peaked over 37k as the highest amount.

I am sorry, but if we are talking about what is good and what is not, it's clear that we are talking about something much larger there, it's clear that we are not going to end up with anything more major. It's obvious that we should be doing something that would be a bit harder to handle, and in order for that to change, we need to make sure that people realize these "dips" are not long term. We are going up, and we do not need any reason to go up, we are going up with whatever the reason we want and that is the sign of a great bull run coming our way and we should be happy about it.

[fullhdpixel]

Were they anticipating it or were they all surprised how those previous weeks turned out? I wonder if anybody actually anticipated that Bitcoin would leap more than $10,000 in just a month's time. That probably caught a lot by surprise. That wasn't normal. Despite Bitcoin's volatility, nobody would have anticipated that it would grow that much in so short a time. That notwithstanding the fact that an approval of a Bitcoin spot ETF by the SEC is not yet announced.

Most of us were probably surprised by that quick upward movement, to be honest. I wasn't expecting the price of Bitcoin to even touch $35k within these two months that are remaining from this year, and I thought we might see the price moving towards that area after the new year starts and we will see a price surge just like we saw in January 2023. So, it was more surprising for most retail investors and speculators and we are way ahead of our expectations.

However, the current situation seems like it may or may not touch $40k within this year because as said by everyone, $38k seems to be the latest resistance and Bitcoin hasn't been able to cross it so far after one attempt, if we see the same for a couple of more times then we will probably see a decline from there.

[goaldigger]

Some were already saying various reasons that comes behind the bear that led us to $35,000 when we are still anticipating for more bull market althrough this season, but things cannot work sometimes we way we expect because bitcoin itself has to be volatile before we can have the beauty in the market buying and selling, we are expecting to see more of bull althrough out this year and very soon the market price of $40,000 will reset it history, but before then, there might be pump and dumps as just from the way we are currently having now.

Many will take profit early and that could stop the up trend for a short time but of course we are still bullish with the price and we are now back to $37k mark, the price of $40k is within the reach, we will see that before the year end for sure. The volatility is normal with Bitcoin, so know how to deal with it and always have your strategy. The bullish trend is still strong, and this is a better year and a better trend compare last year, expect a good price before the year end.

[Captain Corporate]

By the looks of it we had another good day, and let that be a lesson to all those people who started FUD talks right away as soon as they saw it go down just a little bit. They were all talking about how bitcoin was going down and would it be 30k again and would we see under 30k and all that, as you can see we have not lived through anything like that at all, and we should be proud to be seeing it go like this. I understand that it may not feel that way to most people, but that is how it is today here, we are above 37k again and went %6+ high in a single day. This is mainly because we are in the bull run period and we should be quite happy with what we have, there is nothing wrong with bitcoin at the moment, and it will keep on going strong.

[Kemarit]

By the looks of it we had another good day, and let that be a lesson to all those people who started FUD talks right away as soon as they saw it go down just a little bit. They were all talking about how bitcoin was going down and would it be 30k again and would we see under 30k and all that, as you can see we have not lived through anything like that at all, and we should be proud to be seeing it go like this. I understand that it may not feel that way to most people, but that is how it is today here, we are above 37k again and went %6+ high in a single day. This is mainly because we are in the bull run period and we should be quite happy with what we have, there is nothing wrong with bitcoin at the moment, and it will keep on going strong.

Yes, and as per TA, RSI looks solid as this point that's and so it coincides with a great increased again in the last 24 hours and it was just like showing to those FUD that Bitcoin is not going to be affected by any negative news, on the contrary it will make the price goes even stronger as the market has matured already and there's no way that we will listen to this FUD. So let's see, this month is still very long, lots of days to accomplished that $40,000 levels. If we can't reach that this month, a good $38,000 price is not that bad and then by December we will continue and try to breach that round numbers again and maybe it will carry on till next year as we approach the block halving.

[taufik123]

Many will take profit early and that could stop the up trend for a short time but of course we are still bullish with the price and we are now back to $37k mark, the price of $40k is within the reach, we will see that before the year end for sure. The volatility is normal with Bitcoin, so know how to deal with it and always have your strategy. The bullish trend is still strong, and this is a better year and a better trend compare last year, expect a good price before the year end.

Those who take profits early only aim to make quick trades.
When the trend goes up, many will sell for quick profits.
But just let them be Weak Hand in holding Bitcoin, they just become sellers without caring if Bitcoin reaches ATH or not,
the important thing is that they profit in short trades.

The more who sell, the less those who play too much with the market.
In the end, they will participate in pumping up the price of Bitcoin with a pretty good trend and there are some new investors who enter looking FOMO.

Currently, the volatility is quite high and this proves that many are starting to enter Bitcoin,
and more and more money flows are circulating with Bitcoin's dominance going up.
The $40k price will be the next target, maybe this will happen by the end of 2023 if the trend continues to be good like now and the ETF is approved.

[dansus021]

Share your chart guyssss

But yes bitcoin can break the 35K level I hope it last  till at least the halving period maybe a little bit of correction to buy more  the volatile is up and down pretty quick but the last time we hit 35K is at 2 May 2022 is a year ago so I might confirm this as a bull run if hit 45K level 

[LogitechMouse]

Right now, $35,000 is acting as short-term support because, within the past week, we've seen Bitcoin going sideways at the range of $35,000 - $38,000.

I will stick to my previous prediction that Bitcoin might reach as high as $40,000 by the end of the year. One bullish news can do the job, and I really hate to say this, but I think it will be an ETF-related news again. I don't know what, but it might be related to ETFs again. As for the ETF, the SEC can have its final decision until next year, so I also expect to see a major price movement in the first months of the year. In which direction? Depending on the decision of the SEC.

Anyway, it's good to see Bitcoin going as high as $35,000 currently. Just imagine those who bought at the bottom or near the bottom. They already doubled their money just by holding.

[serjent05]

Buying near the current cycle peak is not a good idea even on DCA, much better to wait for a minor correction after the big green candle before adding more coins to your stash. This way you can guarantee more average price to the lowest possible buying price amount.

What if the price goes even higher?  I do not think that buying at the current price is a problem since the target of DCA is to hold for a longer time and sell at a price where BTC has surpassed its ATH.  One can do DCA whenever the fund is available and the market price is still far from the target selling price.  I agree that timing our DCA at a lower price can lower our average price but that is if the price will go down.  But if the price goes continuously up, then we missed the chance to buy at a lower price.

However, I won't advise taking loan to invest in btc If you don't have enough just invest as little as you can ride with the bull next year.

I highly agree, there is no need for a big fund to invest in Bitcoin.  The DCA method proves it.  Taking a loan just to invest in Bitcoin will only make you spend more due to the interest attached to the loan.  Plus you might be forced to sell your holding if you don't have enough funds to pay for the monthly due of your loan.  It is better to do DCA than being bothered by loan payments and interests.

I will stick to my previous prediction that Bitcoin might reach as high as $40,000 by the end of the year. One bullish news can do the job, and I really hate to say this, but I think it will be an ETF-related news again. I don't know what, but it might be related to ETFs again. As for the ETF, the SEC can have its final decision until next year, so I also expect to see a major price movement in the first months of the year. In which direction? Depending on the decision of the SEC.

I also think the same, just one positive push of ETF news, we might see the Bitcoin market get crazy again, reaching $40k  even before the year ends.

[Jating]

Right now, $35,000 is acting as short-term support because, within the past week, we've seen Bitcoin going sideways at the range of $35,000 - $38,000.

It's that we have dump in the last 24 hours, and as I checked it the reason is that the SEC says that they are going to delay a review on spot Bitcoin ETF.

I will stick to my previous prediction that Bitcoin might reach as high as $40,000 by the end of the year. One bullish news can do the job, and I really hate to say this, but I think it will be an ETF-related news again. I don't know what, but it might be related to ETFs again. As for the ETF, the SEC can have its final decision until next year, so I also expect to see a major price movement in the first months of the year. In which direction? Depending on the decision of the SEC.

I think majority here will stick with that kind of prediction, so same here I seeing that the price will go on $40k at least at the end of the month, with or without the SEC news about the ETF approval. I think investors are wise enough to know that the approval might come in mid next year.

And so we need not to anticipated it but what we should do is to prepare for the imminent bull run and so we need to accumulate as much as we can before the block halving. And so if ever the news come up and then the prices goes up, we will be in the profits already. But wait, the biggest is yet to come, so do not sell and just continue to hold and see how far this bull run will be.