Sounds of bulls screaming

[Bitwave01]

Brighter days are ahead of us, this isn't out of the ordinary price action during summer time. Equities are still strong, this idiosyncratic spot selling is dominating all the flow but it will not continue forever.

Crypto traders have the memory of a goldfish. Once this selling subsidizes and ETF news starts getting some momentum, we'll see them all rush in at range highs once again.

[famososMuertos]

Check the data on minimum prices this year, in all 6 months we have been below 60k or in that +50k range, even in January we were in the +40k range, so nothing happens, just stay in: "Stay calm" mode. : )

[BitMaxz]

Check the data on minimum prices this year, in all 6 months we have been below 60k or in that +50k range, even in January we were in the +40k range, so nothing happens, just stay in: "Stay calm" mode. : )

2 weeks of bearish and it touches to cheap price of around $57k I don't think we will see lower than this range it still respects the symmetrical flag so bullish is coming for this week that is just my prediction or if tomorrow the price didn't reach $60k again then we might see the retest at $56k if it's breaout we might see a big crash at that level but if it fail we should see $60k above very soon.

For now, we see less demand for now but I saw many new open long positions according to the Coinup app tool and from Coinglass and another thing is it looks like a bullish reversal pattern at 4hrs time frame we might see a reversal after a few hours I guess and see $60k level again.

[C10H15N]

"When in danger or in doubt, Run in circles, scream and shout." - Herman Wouk, The Caine Mutiny (1951).

Relax newbies (and consider buying the dip).  This, too (unlike the Balrog), shall pass. 😉😎

[passwordnow]

Check the data on minimum prices this year, in all 6 months we have been below 60k or in that +50k range, even in January we were in the +40k range, so nothing happens, just stay in: "Stay calm" mode. : )

Many won't realize that because they're only looking at the ranges and moves for most of the recent days. But it's true that since the start of this year, we're still up by more than 30%. That's still fine if you'd ask me as a gain but it's quite sad to see that the drop continues until it's no longer. Everyone has to chill and think of it that whenever there have been some huge drops, the counterpart of it is that you should brace yourselves and be prepared for the upcoming recovery anytime soon. It may not be asap as everyone want it to be but it'd definitely gonna recover.

[coolcoinz]

That's the truth. People get used to prices after seeing them for a month or so. They imprint the level in their brains and think the next day they'll wake up and see the same exact thing or +/-5%.

In reality bitcoin goes up and down every month, just that we tend to ignore big moves up because we feel like it should be happening, like we're some born winners who have to see gains every time. When bitcoin moves the other way we panic because how could it be like that? I was supposed to have a good day today and now it's in the red? WTF?

Facts people!

In February bitcoin experienced 2 large (over 20%) moves up.
In March there was a large move down with a bounce back to a new high.
April was red with some big moves down.
May was again green with a bounce back.
June was red and so far July is also the same.

Do you see a pattern? 2 months up, one month down, one month up, one month down.
There's no continuous green, no constant uptrend - there never was!

There will again be a green month. Maybe July, Maybe August, and then again there will be a red month after that.
You either try to predict it and trade the swings, or like me you ignore the noise and do your thing.

[DiMarxist]

It has been long we have seen this low but we all know that bitcoin is not stable in one place and it volatile in movement so it is not new to me and I also know that this can happen at any time. So as investors we have to prepare ourselves for this at anytime. We buy more when the price goes down and make our profits when the price is going up.
The time to purchase more is the time when the price is going down. Good Investors are not afraid of the market because it is always on their favour.

[Ndabagi01]

This dip came as a surprise to many because no one thought we will go this low again this year until the bull run season begins. The market it full of uncertainty and this is amongst what makes the market unpredictable to know. I just know that this sell will be over and when the bull comes, it will spare no one and will move and break boundaries that no one will expect within a short time. Keep bagging the bags, so that you don’t feel left out when it begins to make those moves in the uptrend trajectory.

[taufik123]

-snip-
For now, we see less demand for now but I saw many new open long positions according to the Coinup app tool and from Coinglass and another thing is it looks like a bullish reversal pattern at 4hrs time frame we might see a reversal after a few hours I guess and see $60k level again.

More open buy positions will be an opportunity to start re-entering.
As you said on this 4H Time Frame there is a reversal that leads to the bulls to reach the $60k price area again.

Just need to go through the Resistance Downtrend of the Console and then reach the trend Flip point in the $59k-$60k price area.
That will determine whether Bitcoin is able to break through it or not.

Bearish support is the lowest between the $55k-$52k price, but a reversal is imminent.

[nelson4lov]

~Snipped

Bearish support is the lowest between the $55k-$52k price, but a reversal is imminent.

I like the sound of that. Personally, I do feel like the possibility of just going back down to $40k sub price levels is there but just don't think we we'll be heading there in this current market downturn. Probably in a full blown bear market. We will probably go as low at $52K but I think that's going to be it. Then we get a reversal back to 60k levels and just range there until the weeks leading to the US presidential elections come. That is one event that would act as a catalyst for Bitcoin's future price. I'm tempted to get in hereso I'll just start DCA into Bitcoin here of the dip continues.

[Wakate]

Brighter days are ahead of us, this isn't out of the ordinary price action during summer time. Equities are still strong, this idiosyncratic spot selling is dominating all the flow but it will not continue forever.

Crypto traders have the memory of a goldfish. Once this selling subsidizes and ETF news starts getting some momentum, we'll see them all rush in at range highs once again.

Your words gives hope to holders and I am very convinced that a bigger opportunity is on the way that would make the price of Bitcoin to go to the previous high an continue the bull run. There are so many news that are flowing in and out making the price of Bitcoin to range. I am suspecting the momentum is going down for a bigger movement in the market. This might take some months before the price of Bitcoin would fully take the move to continue the bull which is what so many holders have been anticipating for. I am still doing my push up waiting for the price of Bitcoin to hit 100k.

[Orpichukwu]

In the bitcoin market, the best way to survive is to hope for the best to come out of the market any day and also prepare for the worst to happen anytime.
 
Institutional investors are already running into losses. As I read in the news earlier today, a draft of the Bitcoin ETF is losing about $544 million in just 6 days due to the recent price drop on Bitcoin.
 
Many investors who stock their portfolios with Bitcoin through the ETF were not expecting this. There is no certainty that we might not see more dip than this in the coming days, but whatever the case, maybe we will definitely see Bitcoin go back to $60k and above before the end of July.

[X-ray]

Certainly a good time for DCA if i'm being honest, though I will wait until it dips a little more but I bet the people that looking for an entry price back then when bitcoin was still $60k are nowhere to be seen.
truth is, the market movement always caught people off guard, at the time of the market looking very bullish it could just go down so sharp and same thing could happen with opposite scenario.

overall market isn't looking good and there are so many people bearish but I think really after the mtgox and ftx are done with their dumps in the future, maybe that is truly the time where an entry will be bountiful harvests.
but i'm not having the same vision with the alts though  . as far as I know, so many big venture capitals that bought those alts especially layer2 at really low price is ready to dump.
so only stick with BTC and ETH at most.

[taufik123]

I like the sound of that. Personally, I do feel like the possibility of just going back down to $40k sub price levels is there but just don't think we we'll be heading there in this current market downturn. Probably in a full blown bear market. We will probably go as low at $52K but I think that's going to be it. Then we get a reversal back to 60k levels and just range there until the weeks leading to the US presidential elections come. That is one event that would act as a catalyst for Bitcoin's future price. I'm tempted to get in hereso I'll just start DCA into Bitcoin here of the dip continues.

and now the price is back down breaking the $55k Support to the $54k price, if this decline continues as you said it will reach $52k and could even touch $40k.

This downward pressure also comes as Mt.Gox restarted payments in Bitcoin and Bitcoin Cash this July.
Mt.Gox moved 47,228 BTC, signaling the start of the payment process, which has caused market scare due to the potential for a huge sell-off.
https://www.coindesk.com/business/2024/07/05/mt-gox-begins-repayments-in-bitcoin-and-bitcoin-cash/

Now we just need to monitor and to what extent this decline occurs.
If you still have money in reserve, this is a golden opportunity to start buying back.

[darkangel11]

This downward pressure also comes as Mt.Gox restarted payments in Bitcoin and Bitcoin Cash this July.
Mt.Gox moved 47,228 BTC, signaling the start of the payment process, which has caused market scare due to the potential for a huge sell-off.
https://www.coindesk.com/business/2024/07/05/mt-gox-begins-repayments-in-bitcoin-and-bitcoin-cash/

Could you guys stop repeating lies and spreading FUD? I'd expect more from a legendary member.
Check the date on the Mt Gox announcement. They clearly say the repayment will start on the 5th. Before that date we managed to fall from $70k to $60k. Gox hasn't even repaid a single customer and bitcoin was already down 10% and fell another 5% when the announcement came out. This is pure FUD and overreaction, while the real sell pressure comes from miners and the German government. These are real sources of dumps, while Gox coins are IMO barely do anything. They put the word out that food is coming and dogs have already begun fighting for scraps.

[DeathAngel]

Brighter days are ahead of us, this isn't out of the ordinary price action during summer time. Equities are still strong, this idiosyncratic spot selling is dominating all the flow but it will not continue forever.

Crypto traders have the memory of a goldfish. Once this selling subsidizes and ETF news starts getting some momentum, we'll see them all rush in at range highs once again.

I agree with you, the Fed will likely cut rates in September & that will coincide with the time that all the current selling & downward price pressure will subside. Q4 will be explosive & we will be laughing at all the paper hands who are getting shaken out now.

[Dr.Bitcoin_Strange]

I can't yet feel or hear the sound of the bull market screaming. For now, I think the market is cold, and it's going to be like that for some months before it becomes bullish again. Around January of this year, the Bitcoin price was low but started to become bullish until it reached $72k, and the price has stayed high for some months, maintaining a price not below $60k. We could start seeing just a bearish trend from now until November. If you continue to hold your bitcoin, you will definitely take advantage of the bull market. Now is the time to start accumulating again. 

[Kemarit]

Brighter days are ahead of us, this isn't out of the ordinary price action during summer time. Equities are still strong, this idiosyncratic spot selling is dominating all the flow but it will not continue forever.

Crypto traders have the memory of a goldfish. Once this selling subsidizes and ETF news starts getting some momentum, we'll see them all rush in at range highs once again.

I agree with you, the Fed will likely cut rates in September & that will coincide with the time that all the current selling & downward price pressure will subside. Q4 will be explosive & we will be laughing at all the paper hands who are getting shaken out now.

We will have to wait for that positive news, and for me, this is the biggest news that we all we have been waiting as usually it is a sign that the financial status of the US is improving hence it could give not just crypto but the rest of assets like Stocks and Gold a relieved and for sure there will be a huge impact.

Somewhat we have stay and support like holding at $56,000. So I'm not seeing it going down hard as it looks like the Mt. Gox negative news has been price in and so with that, we might go sideways again from $56,000-$60,000. And yes, bull run is imminent, we just have to wait for it to happen and maybe the last quarter of the year will be the biggest run in 2024.

[Helena Yu]

ETF hype is over.

Just because Bitcoin price is declining, it doesn't mean Bitcoin will pump in very soon.

There's no correlation between dump will make Bitcoin bullish because the past two halving events, Bitcoin price relatively keep rising till it break new ATH.

But, people who have stable coin or fiat should take advantage over this dump to accumulate more Bitcoin.

[Zanab247]

Hope you check the current price in the market, before creating this trend op, because what is about to happen now is sound bear run and the price has started dumping to allow the wish of the people waiting for $50k to occur before they can buy and hodl for next bull run.

It will be good if you can show us your analysis that make you said that sounds of bull screaming op, because many hodlers are waiting to know if the bull run will still occur before the end of this year because they have experienced heavy bull run early this year. Don't allow the green candle light to make you feel or believe that bull run is about to flow in the market, because that is a sign of bear run that is about to flow in this season.