I didn't expect to see it went below 56k

[JeffBrad12]

38k is not possible to be seen again in this month already month has runs out, today is 25th July 2024 so if I'm not mistakenly we have less than 6 days to run out of July to August although anything is possible in the crypto space but it is not certain that the price could drop so low to the extent we would see 38k but however news may carry it to around 60k to 45k but seeing of 38k could be hard.
Instead we may likely see a surge in the market just as we witness it is a price rise back to 68,000 dollars unexpectedly and draw back to 64k currently so likely anything is possible.

$38k will probably only can be seen around bearish time after we're done with all the bullrun.
people who thinks that BTC might hit $38k low for this cycle of bullrun should also know that BTC is more stronger than ever, ETF helps grow BTC market cap and volume and it will not BTC to go below $38k again unless we see another bearish.

If any, $54k again probably possible but that's it, it will be the bottom of this cycle.

[wmaurik]

There is an opportunity for a price below $50k to be reached in the next price correction because price recovery does not guarantee that the price will last as long as above $55k, anything can happen in the crypto market and if you are targeting a price below $50k then you have to be patient waiting for the bearish market price. I think the main key is patience because everyone regrets missing the initial target because they thought that price would never be touched but the reality is that the market can fall below $55k regardless of any issues and cases that affect the crypto market price.

Now those who have bought at $55K have also started to smile again when they see the current Bitcoin price which has increased again to reach more than $68K in the market. This means that in addition to the patience that must be in ourselves, the belief in the increase in the price of Bitcoin at the end of this month must also be there because in fact Bitcoin is already in demand by many people so that it can cause the price recovery to take place so quickly in the same month. And now everyone can probably make another target with a higher price in Bitcoin before entering August this year.

[erep]

Now those who have bought at $55K have also started to smile again when they see the current Bitcoin price which has increased again to reach more than $68K in the market. This means that in addition to the patience that must be in ourselves, the belief in the increase in the price of Bitcoin at the end of this month must also be there because in fact Bitcoin is already in demand by many people so that it can cause the price recovery to take place so quickly in the same month. And now everyone can probably make another target with a higher price in Bitcoin before entering August this year.

They have capital and the mentality is very lucky to be able to add assets at the lowest price of $55k after the last ATH, I'm sure they implemented DCA investment so that they will increase crypto assets at every low price in the market, I didn't expect such a high recovery to be achieved in the same month and this seems to be very related to the western political case which is currently the main topic, if the price of bitcoin can reach $70k this month then we will definitely see the next ATH reached soon.

[SamReomo]

If any, $54k again probably possible but that's it, it will be the bottom of this cycle.

We are still not sure about the bottom of this bull run as far as Bitcoin remains below $70k, the chance of it going below $60k also gets higher. And, if somehow it falls below $60k once again due to a bad news or fud then we might see it dump below $54 if the intensity of that dump gets severe. That's why we aren't yet sure about the bottom of the cycle yet.

[wmaurik]

They have capital and the mentality is very lucky to be able to add assets at the lowest price of $55k after the last ATH, I'm sure they implemented DCA investment so that they will increase crypto assets at every low price in the market, I didn't expect such a high recovery to be achieved in the same month and this seems to be very related to the western political case which is currently the main topic, if the price of bitcoin can reach $70k this month then we will definitely see the next ATH reached soon.

The price level of $70K could be reached again in the near future if the price correction is not too big at the end of this month, but for a new ATH again I think we all still need to be patient because considering the current conditions are still influenced by sensational news that can have other impacts on any market including the crypto market itself. Currently the Bitcoin price range is still at $67K more even though it had increased to $69K more yesterday which made more people excited again to see the price level exceeding $70K, but unfortunately that did not happen yesterday in Bitcoin.

[STT]

Right now to close out the week we are seeing BTC price action push past the 2 day average.   We pass 68k on the week to closing with a 70k price possibly.  

What I wonder is how this action at the peaks reflects towards that lower low across multiple months and if July being so negative at the start matters now.   I want to see if a repeat failure to approach and defeat 72k just like happened twice in May and early June will matter now.


If we do attempt 72k with volume but fail to surmount this point.  Will it then lead fast down to 56k or lower prices.    My first thought is this wont happen because recently the price has only sold off smaller amounts before trying harder.

   It has all been happening now in just days rather then the months previous of repeat, is the tempo rising and chances of new prices & new ATH now greater.

[stomachgrowls]

Right now to close out the week we are seeing BTC price action push past the 2 day average.   We pass 68k on the week to closing with a 70k price possibly.  

What I wonder is how this action at the peaks reflects towards that lower low across multiple months and if July being so negative at the start matters now.   I want to see if a repeat failure to approach and defeat 72k just like happened twice in May and early June will matter now.


If we do attempt 72k with volume but fail to surmount this point.  Will it then lead fast down to 56k or lower prices.    My first thought is this wont happen because recently the price has only sold off smaller amounts before trying harder.

   It has all been happening now in just days rather then the months previous of repeat, is the tempo rising and chances of new prices & new ATH now greater.

When it comes to technical approach then its indeed on point that volume will really be that significant whether it would really be able to have some breakout or would really be just that totally be rejected again
on trying to break that ATH but of course we shouldnt really be that trying out to neglect nor trying out to forget fundamentals too on which i dont see that we would really be breaking ATH soon on which
considering that news or sentiments around are really that negative. Although it wont really be an assurance but these huge sell offs news are really that driving the market on negative state.
As for expecations about price movement then of course it would really be always best that you shouldnt really be expecting something positive. Always take caution and be wise on taking up position and exits.

[Odusko]

We are far from going back to that price benchmark for bitcoin at least not in this season, bitcoin will  take a long time before seeing anything close to 56k because at this point, bitcoin is more focused on touching 70k and trying to stay above that price bench limits for a while now which has resulted into constantly resistance around 65k to 67k at most times and we should at least allow the positive vibes to continue for a while, bitcoin have really done well in this season at for some reasons we are going to be playing a resistance role for a while since the entire cryptocurrency market have been on recovery note for sometimes now after the last all time high for bitcoin and a few of other altcoins, most of the time, majority's of bitcoin market analyst failed in their responsibility to properly predict the price bitcoin will go and even though they have some available materials to work still yet the Fail to apply them properly, but still on that based on my experience, bitcoin won't touch the 56k for any reason even if there is a bad news to attack the market it won't bring bitcoin to it kneels to the point of touching that 56k.

[JeffBrad12]

If any, $54k again probably possible but that's it, it will be the bottom of this cycle.

We are still not sure about the bottom of this bull run as far as Bitcoin remains below $70k, the chance of it going below $60k also gets higher. And, if somehow it falls below $60k once again due to a bad news or fud then we might see it dump below $54 if the intensity of that dump gets severe. That's why we aren't yet sure about the bottom of the cycle yet.

that's true however institutional investors seems very unfazed about the potential of dump and instead keep on accumulating but can't deny the fact that there's always potential that market might fumble and it went down below $54k but honestly $50k is probably as low as it can get since even with current price the ETF flow still positive



can imagine people are readying their money to buy BTC if the price ever hit below $50k which means great resistance.

[Iranus]

can imagine people are readying their money to buy BTC if the price ever hit below $50k which means great resistance.

I don't think people will be willing to buy if bitcoin drops to $50k, instead there will be panic covering the entire market. Because if people are excited about buying DIP, bitcoin will not be able to reach $50k, people will buy massively when bitcoin falls below $60k or $55k and it will become a hard support prevents bitcoin from falling further.

Many people always declare their willingness to buy the DIP but when that happens, not too many people will dare to buy. I bet you that if bitcoin unfortunately drops to $50k, many people will tell you that they will buy if BTC drops to $40k. The market is like that, it always knows how to create fear for us instead of bringing us excitement.

[wmaurik]

that's true however institutional investors seems very unfazed about the potential of dump and instead keep on accumulating but can't deny the fact that there's always potential that market might fumble and it went down below $54k but honestly $50k is probably as low as it can get since even with current price the ETF flow still positive

And with ETF flows still positive in Bitcoin, to expect a low of $50K will also take a little longer because after seeing a price of $70K at the end of last month, everyone has been faced with a small correction at the beginning of this month which made Bitcoin back to $65K. So that could also be a sign that the level of price resistance in Bitcoin at a certain level is still quite strong because there are always buyers in certain areas until now and people who expect a price of $50K as a low price have to wait to see that in Bitcoin.

[SamReomo]

that's true however institutional investors seems very unfazed about the potential of dump and instead keep on accumulating but can't deny the fact that there's always potential that market might fumble and it went down below $54k but honestly $50k is probably as low as it can get since even with current price the ETF flow still positive

Very true, the institutional investors are trying their best to increase their Bitcoin holdings by accumulating more of it when they see dumps.

We may hear some bad news coming many times in this bull run and that might increase the intensity of the dumps due to overselling by the weak hands.

It's quite hard to see Bitcoin dumping below $50k but if that happens then surely most of us will accumulate a lot of it and keep it with us for long term.

[goldkingcoiner]

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

This will be your lesson to be a hodler. In the past we all panic-sold when it seemed like Bitcoin was going to fall. And sometimes, it did fall. But it always recovered higher into untouched price levels.

[topbitcoin]

that's true however institutional investors seems very unfazed about the potential of dump and instead keep on accumulating but can't deny the fact that there's always potential that market might fumble and it went down below $54k but honestly $50k is probably as low as it can get since even with current price the ETF flow still positive

And with ETF flows still positive in Bitcoin, to expect a low of $50K will also take a little longer because after seeing a price of $70K at the end of last month, everyone has been faced with a small correction at the beginning of this month which made Bitcoin back to $65K. So that could also be a sign that the level of price resistance in Bitcoin at a certain level is still quite strong because there are always buyers in certain areas until now and people who expect a price of $50K as a low price have to wait to see that in Bitcoin.

After the rejection occurred at the price of $70k, it was a sign that bitcoin could not break the $70k level at the end of July yesterday, and seeing the current structure does have the possibility to fall back in the red zone in the first week of August, the lowest price level of $54k which was the last defense of $50k that was raised in my opinion it will not be touched, most likely today we will consolidate again in the price range of $60k-$65k.

Bitcoin investors still continue to accumulate, especially the big ones, including Microstrategy, they are buying again, on the other hand I also see that the rejection occurred yesterday at $70k because of the Fed's decision to maintain interest rates, then we will get a position back in the 3rd and 4th weeks of this month because of the pursuit of the possibility that the Fed will cut its benchmark interest rate significantly which will affect the market to be very crowded again.

[GeorgeJohn]

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

You should be surprised seeing Bitcoin price falling or depreciating in value, because I know very well that since existence of bitcoin it always increase and decreases, so that has been the nature of Bitcoin and we don't need to panic when we see the price bitcoin fall's

I could Remember vividly when the price of bitcoin is directly on seventeen thousand [17k] and nobody expected that price of bitcoin right now will skyrocket to this particular amount it is right now, so I know that bitcoin price is unpredictable and it's rotational from my basic knowledge

I know that people who has not know bitcoin very well will be afraid or panic whenever they seems the price of bitcoin reducing in price, I know that not everyone that cannot endure the pressure of bitcoin decrease after it has increase in price

[STT]

When this topic was made we were in a similar kind place as now.  Price now is back to the 200 day average, unlike at July start I dont expect it to be weaker then it was.  Its already a higher price but it could be we just have moved before 50 day and arrive at the 200, which is where we then rise.

I dont see that as occurring now but I think its possible.   So far because the 200 day is reflecting long term gains, is still rising we are actually higher and havent even lost 10k from the recent peak.   July start was genuinely threatening alot worse where as right now is mostly profit taking as of now.

[wmaurik]

After the rejection occurred at the price of $70k, it was a sign that bitcoin could not break the $70k level at the end of July yesterday, and seeing the current structure does have the possibility to fall back in the red zone in the first week of August, the lowest price level of $54k which was the last defense of $50k that was raised in my opinion it will not be touched, most likely today we will consolidate again in the price range of $60k-$65k.

It did correct to the $60K level briefly before returning to the $61K level and is even very close to the $62K level at this time. I think this is another opportunity for Bitcoin buyers in large numbers because from the price fluctuations that we saw last month, of course we can still take a reference where people who bought at the $54K level have made a profit when Bitcoin returned to $70K at the end of last month. And for this month I think the same thing can still happen again to Bitcoin, although we must also remain vigilant with a deeper downward trend in prices.

[GigaBit]

After the rejection occurred at the price of $70k, it was a sign that bitcoin could not break the $70k level at the end of July yesterday, and seeing the current structure does have the possibility to fall back in the red zone in the first week of August, the lowest price level of $54k which was the last defense of $50k that was raised in my opinion it will not be touched, most likely today we will consolidate again in the price range of $60k-$65k.

It did correct to the $60K level briefly before returning to the $61K level and is even very close to the $62K level at this time. I think this is another opportunity for Bitcoin buyers in large numbers because from the price fluctuations that we saw last month, of course we can still take a reference where people who bought at the $54K level have made a profit when Bitcoin returned to $70K at the end of last month. And for this month I think the same thing can still happen again to Bitcoin, although we must also remain vigilant with a deeper downward trend in prices.

When the price of Bitcoin was slightly lower in July, there was a excitement among investors that August would probably be bullish, but the Bitcoin price dropped to 60 in the August hint, and it is not difficult to understand that the price may reach lower than 60k. And in this situation those who collect bitcoins will definitely be profitable. Meanwhile those who are doing DCA can collect significant amount of Bitcoins. Although I think this bearishness will not last long. Bitcoin will be heading upwards again in the next 2 weeks. Chances of going below 56k are very low considering the current time. But investors must be prepared for any unexpected incident.

[topbitcoin]

After the rejection occurred at the price of $70k, it was a sign that bitcoin could not break the $70k level at the end of July yesterday, and seeing the current structure does have the possibility to fall back in the red zone in the first week of August, the lowest price level of $54k which was the last defense of $50k that was raised in my opinion it will not be touched, most likely today we will consolidate again in the price range of $60k-$65k.

It did correct to the $60K level briefly before returning to the $61K level and is even very close to the $62K level at this time. I think this is another opportunity for Bitcoin buyers in large numbers because from the price fluctuations that we saw last month, of course we can still take a reference where people who bought at the $54K level have made a profit when Bitcoin returned to $70K at the end of last month. And for this month I think the same thing can still happen again to Bitcoin, although we must also remain vigilant with a deeper downward trend in prices.

If the bitcoin price journey again is the same as in July to reach the $53k price level and then we get another price decline rejection at that price level, most likely we will get a double bottom pattern and will retake the bitcoin price and re-enter the side ways arena or could be a bullish zone again.

We seem to need to be prepared to get more BTC at that discount price, right now the decline seems to continue and continue, the $60k price has been tried and bounced, but the negative atmosphere still continues and will certainly experience another decline if you pay attention.

[wmaurik]

If the bitcoin price journey again is the same as in July to reach the $53k price level and then we get another price decline rejection at that price level, most likely we will get a double bottom pattern and will retake the bitcoin price and re-enter the side ways arena or could be a bullish zone again.

For that, I personally am still a little hesitant because in the last two days I have seen the price resistance at the $60K level is still quite strong and is still in that area until now so the possibility of seeing the Bitcoin price again below the $55K level seems a little slim even though it is not impossible to happen again to Bitcoin in August. But on the one hand I still think that Bitcoin will move back up from the current price before showing sideways in the market for a not so long duration.