Bitcoin may not fall below $55000 and 58000

[Btcalysis]

You can go to any crypto exchange and see what that I am talking about if you use the 1 day chart. Do not let MACD and SAR deceive you. Go for BB and RSI for the analysis.

https://talkimg.com/images/2024/10/02/iT6oN.png

Do not listen to those that thought the bull run is over.

[SquirrelJulietGarden]

You can go to any crypto exchange and see what that I am talking about if you use the 1 day chart. Do not let MACD and SAR deceive you. Go for BB and RSI for the analysis.



Do not listen to those that thought the bull run is over.

You can lose your money in a bull run, and whether you get profit or loss, it depends on what you do like trading or investment and if trading, is it Spot, Margin or Futures.

With investment, is it an investment with your own money, not from a loan?

These things will decide that will your trading or investment get a margin call, loan expiration or position liquidation. If you use risky trading types like Margin or Futures, or if you invest with loaned money, you have high risk of losing money. No technical indicators can save you even the market is bullish.

[tabas]

Do not listen to those that thought the bull run is over.

I'm saying it always that the bull run is not yet over and it will take up to next year or much longer than anticipated. Many of these people are looking at the short-term chart and that's how they predict the market. The comparison of fundamentals and technicals sometimes doesn't align but sometimes they do. But experience-wise, this is going to take a while and all we have to do is to be patient and accumulate more. While those that monitor the market daily, make sure that you can take the market's volatility. Just like recently, from $66k down to $60k and there has been $500M in total that has been liquidated today.

[shinratensei_]

hopefully that's the case, but even if it somehow go below $58k doesn't mean bullrun is over, from recent wick, we could see that BTC recovers fast to $60k again and the sentiment become bullish again.

those bearish people are everywhere so their opinion is pretty much just noise, the fear also correlate with greed and index fear which currently is at low around 36, so no wonder some people are calling out that bullish is over even though really it isn't.

if somehow BTC goes below $58k, we can just accumulate, we haven't strayed away from the past data of bitcoin's bullish chart routine. but certainly a bullrun above $76k gonna need massive accumulation before it happens.

but tbh, i also kinda concerned whether bitcoin could breakthrough current falling wedge, it was supposed to breakthrough yesterday then some news about war comes in.

[hugeblack]

Since the price is around $61,000, what does it mean for us to return to the $58,000 levels, especially since they are within the current support and resistance levels? Since there has been no real breach of these levels, the opportunity of $67,000 still exists and the possibility of achieving a new ATH is possible during October.

[slaman29]

The confidence OP displays is definitely given away by saying "MAY" instead of "WILL"

Hey we all like the idea of BTC never going down to 55k and below again but the fact is it is not able to break even current ATH without intervention of stockmarket of USD dollar problems, or without all the inflows of ETF, etc.

Until we get out of all that we won't see a true low, TA is TA but now to reach 50k is only 25%. We know BTC is more than capable of this.

[Z_MBFM]

Do not listen to those that thought the bull run is over.

I'm saying it always that the bull run is not yet over and it will take up to next year or much longer than anticipated. Many of these people are looking at the short-term chart and that's how they predict the market. The comparison of fundamentals and technicals sometimes doesn't align but sometimes they do. But experience-wise, this is going to take a while and all we have to do is to be patient and accumulate more. While those that monitor the market daily, make sure that you can take the market's volatility. Just like recently, from $66k down to $60k and there has been $500M in total that has been liquidated today.

Yes Bitcoin or crypto market bull run is not over yet but sometimes some negative news will destabilize the market.  And at that time, the price of Bitcoin is seen to decrease.  Recently Bitcoin price has dropped from 66 thousand to 61 thousand today.  So we cannot guarantee that Bitcoin price will not fall below 60k.  But yes no matter how down bitcoin price is it will recover again and we may see its bull run or it may take a little longer time.  But his bull run was not missed in the history of Bitcoin

[Dr.Bitcoin_Strange]

Nothing is still impossible in the crypto space, the resistance and support level might be strong  and makes you think that it can not fall to $55k again but market can still turn at the slightest moment and it could dip a bit before it spike again. The price of Bitcoin can be very dynamic and when you think the direction is possible, it could take another turn.

[Iranus]

Nothing is still impossible in the crypto space, the resistance and support level might be strong  and makes you think that it can not fall to $55k again but market can still turn at the slightest moment and it could dip a bit before it spike again. The price of Bitcoin can be very dynamic and when you think the direction is possible, it could take another turn.

Indeed, anything can happen, especially with an extremely volatile asset like bitcoin and challenging bitcoin is not a wise idea. You're right, just because we think it won't happen doesn't mean it won't happen. Don't forget that bitcoin always surprises and likes to go against our thinking.

But if that happens, it's not so bad. Haven't we always said that we would be willing to buy more if the price of bitcoin drops, so why are we afraid of a price drop? It's strange that we always want to buy cheap bitcoins but are afraid of the price of bitcoin falling.

$55k may not be the most ideal price but it's not too bad if someone still wants to accumulate more of their bitcoin portfolio. No one knows what will happen but those who still have money should not miss this opportunity if it really happens.

[Pandu Geddon]

Nothing is still impossible in the crypto space, the resistance and support level might be strong  and makes you think that it can not fall to $55k again but market can still turn at the slightest moment and it could dip a bit before it spike again. The price of Bitcoin can be very dynamic and when you think the direction is possible, it could take another turn.

Even with some of the analysis tools mentioned by Op, we can also be surprised by the direction of market movements that sometimes do not match the analysis we do.
There is a positive expectation from the market for this or the end of this year. this can affect market demand. the stronger it is, the better it will be for us to continue in the Bullish trend.
It is impossible for the market to experience another decline before the increase occurs. but if a decline at the $55k Level occurs, it might slightly change the direction of sentiment in the market. where most are currently optimistic about uptober, there might be a slight decline.