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.

[tvplus006]

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

I agree that the bull run is not over. But I do not agree with the fact that the price Bitcoin cannot fall below $55000. You are in the cryptocurrency market and you should know that everything is possible here and accordingly, despite the expectations of the majority, the price of BTC can move in the opposite direction.

[hyudien]

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

I agree that the bull run is not over. But I do not agree with the fact that the price Bitcoin cannot fall below $55000. You are in the cryptocurrency market and you should know that everything is possible here and accordingly, despite the expectations of the majority, the price of BTC can move in the opposite direction.

Yes you are right about this, we can't say for sure that bitcoin won't move down to 58k for example, because in the market anything can happen even if it's just a correction. Of course we hope we will continue to move up from what is happening now, but if there is a decline maybe we will use it to re-accumulate the amount of bitcoin in our wallet.
This goes back to our analysis, most of us believe that bitcoin will reach a higher price, but that doesn't mean we will miss a little decline because it cannot be separated from price movements and we will always see it.

[fuguebtc]

I agree that the bull run is not over. But I do not agree with the fact that the price Bitcoin cannot fall below $55000. You are in the cryptocurrency market and you should know that everything is possible here and accordingly, despite the expectations of the majority, the price of BTC can move in the opposite direction.

Yes you are right about this, we can't say for sure that bitcoin won't move down to 58k for example, because in the market anything can happen even if it's just a correction. Of course we hope we will continue to move up from what is happening now, but if there is a decline maybe we will use it to re-accumulate the amount of bitcoin in our wallet.
This goes back to our analysis, most of us believe that bitcoin will reach a higher price, but that doesn't mean we will miss a little decline because it cannot be separated from price movements and we will always see it.

If you believe that anything can happen in the market, then why don't you believe that the bull run is over and 73k will be the ATH for this year's bull run? 

I don't want to spread rumors or be pessimistic, I don't even want it to happen but like you and everyone else said, anything can happen and I won't rule out any scenario. As bitcoin investors, we need to be optimistic but that doesn't mean we don't have a backup plan or stubbornly fight the market trend. Frankly, no one knows what will happen next, the only thing we can do is pray that everything will go as expected.

[Rabata]

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

I agree that the bull run is not over. But I do not agree with the fact that the price Bitcoin cannot fall below $55000. You are in the cryptocurrency market and you should know that everything is possible here and accordingly, despite the expectations of the majority, the price of BTC can move in the opposite direction.

Yes you are right about this, we can't say for sure that bitcoin won't move down to 58k for example, because in the market anything can happen even if it's just a correction. Of course we hope we will continue to move up from what is happening now, but if there is a decline maybe we will use it to re-accumulate the amount of bitcoin in our wallet.
This goes back to our analysis, most of us believe that bitcoin will reach a higher price, but that doesn't mean we will miss a little decline because it cannot be separated from price movements and we will always see it.

Bitcoin crash can happen at any time. So not only bullish but also bearish should be accepted. There are many who wait for Bitcoin to turn bullish but get emotional when it turns bearish instead of bullish. Investors should remember that if there were no darkness, there would be no value in light. It is never reasonable to expect only profit. As an investor we should not only analyze the positive aspects but also observe the negative aspects well. The market can reach any level at any time which is not impossible. But every bearish also creates opportunities for those who want to hold Bitcoin long-term or DCA.

[shinratensei_]

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.

yeah people like to underestimate market, as far as I know, bitcoin could clear $49k again and jump back all the way to ATH, nothing is impossible with bitcoin market, nobody also predicted bitcoin surpass previous ATH despite still too early on the time frame compared to previous cycle.

this is also why future trading can be something that gives us headache, the risk of being liquidated despite BTC just going back up in just few days, none of these things pose any risk to any bitcoin holder that don't overexposes themselves with the future trading and leverage.

it's always wiser if we're ready to catch the bottom, trying to have better entry price than the rest of the world.

[michellee]

Bitcoin crash can happen at any time. So not only bullish but also bearish should be accepted. There are many who wait for Bitcoin to turn bullish but get emotional when it turns bearish instead of bullish. Investors should remember that if there were no darkness, there would be no value in light. It is never reasonable to expect only profit. As an investor we should not only analyze the positive aspects but also observe the negative aspects well. The market can reach any level at any time which is not impossible. But every bearish also creates opportunities for those who want to hold Bitcoin long-term or DCA.

If we can be wise with the situation, we will not miss the chance to hold Bitcoin for a long term. When bearish comes, we will have more chances to buy at a low price. When bullish comes, we have the opportunity to sells at a high price.

Bitcoin can falls below $55000 and stay at that price for some time. We don't have to worry with that because that will just temporary and the price will be increase. A strong hand investor will be happy when the price is down because they can accumulate more.

[dunfida]

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

I agree that the bull run is not over. But I do not agree with the fact that the price Bitcoin cannot fall below $55000. You are in the cryptocurrency market and you should know that everything is possible here and accordingly, despite the expectations of the majority, the price of BTC can move in the opposite direction.

Yes you are right about this, we can't say for sure that bitcoin won't move down to 58k for example, because in the market anything can happen even if it's just a correction. Of course we hope we will continue to move up from what is happening now, but if there is a decline maybe we will use it to re-accumulate the amount of bitcoin in our wallet.
This goes back to our analysis, most of us believe that bitcoin will reach a higher price, but that doesn't mean we will miss a little decline because it cannot be separated from price movements and we will always see it.

Bitcoin crash can happen at any time. So not only bullish but also bearish should be accepted. There are many who wait for Bitcoin to turn bullish but get emotional when it turns bearish instead of bullish. Investors should remember that if there were no darkness, there would be no value in light. It is never reasonable to expect only profit. As an investor we should not only analyze the positive aspects but also observe the negative aspects well. The market can reach any level at any time which is not impossible. But every bearish also creates opportunities for those who want to hold Bitcoin long-term or DCA.

And this is something that can't really be known. If you are someone who had been on this market for a while then you wont really be that making yourself that easily get panicked on the moment that the market will really
be having that kind of correction or price decrease. This is why it will really be that best that you should really be that accepting or having some back up plans on the moment that the market will really be having those movements so that you would be able to make profits or maximizing the gains on the moment that the price will be making up some movement. Bitcoin may not fall below 55k? There's no way that you could really be able to assure such thing on which we know on this market on which everything would really be that a possibility. Expect the unexpected as always and just like on what other people been saying because price could really be able to drop and this what you should really be that preparing into. On the moment that the price will really be having that movement then you do already have the idea on what you should do.

On the moment to those people who are really just that new into this market then it will really be normal that they do freak out. Usually people will really be having that buying high and selling low
kind of mistake and thats why they do really end up on having those frustrations and will really be having those kind of desperation on the time or moment those unexpected events.
Be versatile and be that attentive on whatever the price you would be able to encounter.

[Fivestar4everMVP]

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.

Well, for many of us who are already used to the market aren't scared of bitcoin price falling, infacts, if the price of bitcoin will fall below $58k or even $55k, I personally will see it as a buying opportunity, thank goodness you also believe that the bull run aren't over yet, personally, I believe we haven't even entered the expected bull run for this year and next year, What we saw in the early months of this year is possibly a pre-bull run, which is and was catalized by the US Sec approval of bitcoin spot ETF.
The halving bull run is yet to come around, and hopefully, if the Negative event that are currently happening does not affect the market (like the current war between Israel and iran), then bitcoin should begin to make some positive moves towards $70k by the end of this month.
But if the negative event will affect the market, then it's possible that bitcoin may likely drop to and below the prices you mentioned above.

[SquirrelJulietGarden]

Well, for many of us who are already used to the market aren't scared of bitcoin price falling, infacts, if the price of bitcoin will fall below $58k or even $55k, I personally will see it as a buying opportunity

You can take advantage of dips and maximize bitcoins you can buy with same capital in DCA. It's good chance for entry but after making your purchase, you will have to hold your bitcoin too, it requires strong mentality and very good understanding about this market. Many people can buy bitcoin at dips but they fail to hold, or panic sell in a next dip.

thank goodness you also believe that the bull run aren't over yet, personally, I believe we haven't even entered the expected bull run for this year and next year, What we saw in the early months of this year is possibly a pre-bull run, which is and was catalized by the US Sec approval of bitcoin spot ETF.

Because Bitcoin made its ATH before the halving day, it causes uncertainty in investors. That whether it is a first time, Bitcoin bull run does not last to one year after a halving year. Some external news like wars, USA President Election, other things make these people more uncertain and sometimes they feel very fearful.

[el kaka22]

Looking at the price right now, I think I agree it will not go under 55k for sure, not entirely sure about 58k, because with just a small bit of fall then it can go under that price, but definitely will stay above 55k without a doubt. I think it needs to be considered something that is fine and dandy, we are not going to end up with a great deal of trouble for the long term and we will recover and go back up. Don't have worries about it, we can make sure that things could get great results and bull run is on the way, we should be seeing the price grow better.

I believe we are going to see price at 70k+ not very late, it should be soon, in a month or so we can see that happen. This is why I have hopes about what I am holding and do not worry. I understand people who doubt bitcoin, because we have seen many drops and they fear same will happen now but we will not see it happen again, I think it is going to be fine and not going to go down too much.