Is Bitcoin About to Break Out or Just a Quick Rise?

[Junii]

I wanted to share what i am seeing today bitcoin BTC  just jumped to around 71K and i think a lot of that is from the big money coming into the bitcoin ETFs over $458 million in one day at the same time news about Israel and Iran caused a quick dip but now it is climbing again. So do you think this is the start of a bigger rise because of big investors and the halving or is it just a small spike before a bigger drop?

[gwestcot]

My opinion is that it is likely to break down one more time after some upward movement. Anywhere from 40-50k wouldn't surprise me as a cycle bottom.

[Charles-Tim]

There is a speculation board, which is a child board to economics. That is the board bitcoin speculation thread should be, not on altcoin speculation board.

There was another resistance before getting to $73000, that has to be broken. Some people are saying bitcoin can go higher if it gets to $75000, but I see the price as another resistance.

[Junii]

My opinion is that it is likely to break down one more time after some upward movement. Anywhere from 40-50k wouldn't surprise me as a cycle bottom.

That’s a really interesting perspective i can definitely see a scenario where it dips again especially after a bit of upward movement if it drops toward that 40 to 50k range i think that could really set the stage for the next cycle. I will keep a close eye on it and thanks for sharing your thoughts.

There is a speculation board, which is a child board to economics. That is the board bitcoin speculation thread should be, not on altcoin speculation board.

There was another resistance before getting to $73000, that has to be broken. Some people are saying bitcoin can go higher if it gets to $75000, but I see the price as another resistance.

I am really sorry about that sir i didn’t realize i had posted it in the wrong board. I will make sure to move it to the correct place. Also i appreciate your feedback on the resistance levels. I see exactly what you mean before hitting $73k we do have a big hurdle and $75k looks like a major test as well. I will keep watching it closely thanks again.

[asriloni]

I wanted to share what i am seeing today bitcoin BTC  just jumped to around 71K and i think a lot of that is from the big money coming into the bitcoin ETFs over $458 million in one day at the same time news about Israel and Iran caused a quick dip but now it is climbing again.

So do you think this is the start of a bigger rise because of big investors and the halving or is it just a small spike before a bigger drop?

I don't think so. It sounds non sense to expect a big rise to happen just after this small bounce. We have experienced a bull trap when BTC dumped to the 81k, then it's bounced back to 97, then again it's dumped to 60k.

So we can also expect another bull trap to happen. No confirmation for Bitcoin to go up as it has not yet break 75k resistance, which was its supply zone.

Once it's able showing a break out penant, we're likely heading a big higher, but this may be just for temporary before the continuation of another drop.

[Dunamisx]

For now just take it that we are already out of the $60,000 zone with bitcoin market price, there has been a strong support for $70,000 and we may be henceforth seeing the market revolving round this range and we may not have below $70,000 for now, while other altcoins still remain in their little performance until we have the opportunity of going into the bull season before they could massively rise the way we expected.

[Junii]

I wanted to share what i am seeing today bitcoin BTC  just jumped to around 71K and i think a lot of that is from the big money coming into the bitcoin ETFs over $458 million in one day at the same time news about Israel and Iran caused a quick dip but now it is climbing again.

So do you think this is the start of a bigger rise because of big investors and the halving or is it just a small spike before a bigger drop?

I don't think so. It sounds non sense to expect a big rise to happen just after this small bounce. We have experienced a bull trap when BTC dumped to the 81k, then it's bounced back to 97, then again it's dumped to 60k.

So we can also expect another bull trap to happen. No confirmation for Bitcoin to go up as it has not yet break 75k resistance, which was its supply zone.

Once it's able showing a break out penant, we're likely heading a big higher, but this may be just for temporary before the continuation of another drop.

I agree that we should stay cautious here this small bounce alone does not really confirm a strong move up yet. We have already seen similar situations before BTC dropped to around 81k bounced to 97k and then dumped to 60k. The market loves to trap impatient traders. If a real breakout happens with strong momentum then the upside case becomes stronger. Until then it is probably better to stay patient because in crypto the market often moves just to prove most of us wrong.   

[Junii]

For now just take it that we are already out of the $60,000 zone with bitcoin market price, there has been a strong support for $70,000 and we may be henceforth seeing the market revolving round this range and we may not have below $70,000 for now, while other altcoins still remain in their little performance until we have the opportunity of going into the bull season before they could massively rise the way we expected.

That is a fair take the 70k area does look like solid support for now so the market might just keep moving around this range for a while as for altcoins they still look like they are in waiting mode bitcoin is doing the heavy lifting while the alts are basically sitting on the sidelines waiting for the bull season invitation to finally start running.

[dwyane36]

I agree that we should stay cautious here this small bounce alone does not really confirm a strong move up yet. We have already seen similar situations before BTC dropped to around 81k bounced to 97k and then dumped to 60k. The market loves to trap impatient traders. If a real breakout happens with strong momentum then the upside case becomes stronger. Until then it is probably better to stay patient because in crypto the market often moves just to prove most of us wrong.   

I think that the current rebound in the market should be seen as a correction, after which the bearish trend will continue. However, it's noteworthy that the Fear and Greed Index rose sharply from 11 to 28 in just a week, indicating that market sentiment is changing. Most likely, as soon as the crowd believes in growth again and enters long positions, the market will reverse and liquidate them.

[passwordnow]

So do you think this is the start of a bigger rise because of big investors and the halving or is it just a small spike before a bigger drop?

I hope so that this is the start of it. But we're getting the idea of which part is this in the 4-year cycle, we're in the bear market of this cycle. But if this rise shall continue, it'll probable break that cycle. Or it didn't broke it but instead it just went through in the bear earlier than expected. Just as how the bull run ended, then it has entered that bearish sentiment too early and now, it's on recovery period. Well, we're all getting the same thoughts that we might see more spikes if this continues and that's all what we want to see.

[$crypto$]

So do you think this is the start of a bigger rise because of big investors and the halving or is it just a small spike before a bigger drop?

I hope so that this is the start of it. But we're getting the idea of which part is this in the 4-year cycle, we're in the bear market of this cycle. But if this rise shall continue, it'll probable break that cycle. Or it didn't broke it but instead it just went through in the bear earlier than expected. Just as how the bull run ended, then it has entered that bearish sentiment too early and now, it's on recovery period. Well, we're all getting the same thoughts that we might see more spikes if this continues and that's all what we want to see.

During bearish phases there are often bullish traps, this has happened several times and it may be like that again this time because we don't know what will happen in the future.
In theory it is like that, the halving cycle is now in a bear market and if it rises to reach the ATH, obviously this breaks the cycle, but we don't know if the theory will be the same as 4 years or this time it will be different?

[passwordnow]

So do you think this is the start of a bigger rise because of big investors and the halving or is it just a small spike before a bigger drop?

I hope so that this is the start of it. But we're getting the idea of which part is this in the 4-year cycle, we're in the bear market of this cycle. But if this rise shall continue, it'll probable break that cycle. Or it didn't broke it but instead it just went through in the bear earlier than expected. Just as how the bull run ended, then it has entered that bearish sentiment too early and now, it's on recovery period. Well, we're all getting the same thoughts that we might see more spikes if this continues and that's all what we want to see.

During bearish phases there are often bullish traps, this has happened several times and it may be like that again this time because we don't know what will happen in the future.
In theory it is like that, the halving cycle is now in a bear market and if it rises to reach the ATH, obviously this breaks the cycle, but we don't know if the theory will be the same as 4 years or this time it will be different?

We don't know and we'll see. Many wishes to see that the 4-year cycle breaks and this anticipated bear market would turn back into bullish quickly. I don't know if that change will impact us positively if we only want to see it back into bullish. Because speaking of the market cycles, if it just came from the top then the bottom shall come in. And if this breaks that cycle, for how long we're going to see the next possible bear market then? That might also change the cycle and we'll see it come in unexpected time. I think that it's still good if we see that the 4-year cycle comes and this year is for the bear.

[Odusko]

I wanted to share what i am seeing today bitcoin BTC  just jumped to around 71K and I think a lot of that is from the big money coming into the Bitcoin ETFs over $458 million in one day at the same time news about Israel and Iran caused a quick dip but now it is climbing again. So do you think this is the start of a bigger rise because of big investors and the halving or is it just a small spike before a bigger drop?

Alot of speculations is currently ongoing with bitcoin since the price touched 70k earlier today after the last pick pruczthst saw bitcoin achieving $73k+ price in the last 48 hours, this have been one of the time that we can barely tell which direction bitcoin is going to take, but then from the present available liquidity, bitcoin could take a more downside direction for the rest of this week now that bitcoin failed to either sustain the resistance level that it achieved recently.

[shinratensei_]

Be careful of a dead cat bounce and bulltrap because it happens a lot, the inflow in ETF could be some investor thinking the bottom for bitcoin is already in, but that could be wrong.
It doesn't mean the bitcoin will price will keep going down but the chance of it being a bottom and just another bull trap is 50% to 50%. Like others mentioned, it'd be advisable to just wait and see how things unfold.

[Oshio-man]

There is no investment that doesn't require risk before you can succeed because you will not play with your investment when try to make income or position your coins in the future, bitcoin break out how, is it to start increasing to convince people that bullish season is over or what, we all know that bitcoin is what is making altcoins to increase which is the sign that is on ground for investors to choose wisely to know where to invest what will bring income in the future, I have heard about some altcoins that is profitable but you have to research to know more about the altcoin before you can invest your funds because there are some altcoins that will not going to increase higher to favour their investors.