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

[Akbarkoe]

You would never be completely sure about what is about to happen with bitcoin because of the volatility nature of bitcoin, right now that we have bitcoin $72k it can also be a sigh that we are about to have breakout season with bitcoin it might also be that we are about to have more breakdown periods, but as an investor I don’t like involving myself with any form of speculation about bitcoin, I will be mostly focused and interested in having discretionary income so I can be able to keep buying and stacking bitcoin into my portfolio which is a very important scenario that I find very interesting.

You don't like speculating but you yourself wrote that *right now that we have bitcoin $72k it can also be a sigh that we are about to have breakout season*. LOL
Speculating is fun, it's like we're talking about the future ^{even though it's not certain} but at least you see and digest what you can do there.
Buying bitcoin is a personal decision whether to use a discretionary income or not.
I don't know which way the correlation goes?

[Abiky]

You would never be completely sure about what is about to happen with bitcoin because of the volatility nature of bitcoin, right now that we have bitcoin $72k it can also be a sigh that we are about to have breakout season with bitcoin it might also be that we are about to have more breakdown periods, but as an investor I don’t like involving myself with any form of speculation about bitcoin, I will be mostly focused and interested in having discretionary income so I can be able to keep buying and stacking bitcoin into my portfolio which is a very important scenario that I find very interesting.

Bitcoin won't be "breaking out" anytime soon. Not as long as the Iran conflict persists. The "petrodollar" (aka USD) is strengthening. This is bad for Bitcoin's market price within the short-term. The only reason BTC went up towards $72k lately is because of its volatile nature. But it's unsustainable because of the reasons mentioned earlier.

The real rise will happen after the scheduled 2028 halving. We have plenty of time to buy "cheap" BTC before this happens. Just sit back, and relax. There's nothing to worry about.

[Jostern]

You would never be completely sure about what is about to happen with bitcoin because of the volatility nature of bitcoin, right now that we have bitcoin $72k it can also be a sigh that we are about to have breakout season with bitcoin it might also be that we are about to have more breakdown periods, but as an investor I don’t like involving myself with any form of speculation about bitcoin, I will be mostly focused and interested in having discretionary income so I can be able to keep buying and stacking bitcoin into my portfolio which is a very important scenario that I find very interesting.

Bitcoin won't be "breaking out" anytime soon. Not as long as the Iran conflict persists. The "petrodollar" (aka USD) is strengthening. This is bad for Bitcoin's market price within the short-term. The only reason BTC went up towards $72k lately is because of its volatile nature. But it's unsustainable because of the reasons mentioned earlier.

The real rise will happen after the scheduled 2028 halving. We have plenty of time to buy "cheap" BTC before this happens. Just sit back, and relax. There's nothing to worry about.

Yes I don’t think bitcoin would be breaking out anytime soon, because while I was writing this post, bitcoin is currently at $70k while it was previously at $72k yesterday, so we can see that it’s been somehow stagnant for some days now, which is why I don’t think that bitcoin would be in a rush for a bull season anytime soon, anyways we don’t know if we can get to the $80k point which is very sustainable while while trying to approach the market of bitcoin dip, buying and holding bitcoin have always been a very comfortable option when you can always buy through the DCA on a regular basis and forget about the unforeseen circumstances which might not be mostly appreciated by people who prefers to buy on a regular basis.

[michellee]

Just prepare yourself if this situation happens many times in the near because there is possibility the market will be like that for some time. After reaching $75k, the price down to $70k and that happens shortly so we should be ready for anything happens. We don't know for sure so you should trying to catch any chance you see to profit and not too late accumulate more if you already prepare funds. The price can increase fast and down fast but in the other time, you may see the fluctuation can comes fast through the market.

[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?

Constantly we see that bitcoin try to either break out or build a resistance to a pull back, this is the volitility nature of bitcoin, in fact that is the unique nature of bitcoin and we can't deny that, just see what the price did in the kast two days now, we saw how the price moved to 73k and then diving back to 67k before climbing now to 70k that is the volitility with bitcoin that we are talking about.

[Webetcoins]

It's not going to skyrocket suddenly, not alts, not bitcoin. We had a period where the war on Iran made it look up for a moment but that was just for a mere moment, it will not continue for too long. So we should realize that this was a temporary thing and will not happen that commonly.

The bear market will not be over this quickly and we have to give it some time. I understand it may not be that easy to let this be but we have to and it could really make a lot of big changes for us as well.

[dansus021]

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.

Hahhaa 20 days past and gwescot was right although I dont want bitcoin near 40-50K I just hope the bottom is 60K or at least the last wick is 59K.

Bitcoin or any other instrument is need a correction even Gold with the ongoing war finally hit correction, maybe Oil is the next. back to bitcoin, the 4 year Cycle in my opinion isnt relevant anymore it simply because so many instutional now buying bitcoin and now btc heavily correlated with the world event

[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.

Hahhaa 20 days past and gwescot was right although I dont want bitcoin near 40-50K I just hope the bottom is 60K or at least the last wick is 59K.

Bitcoin or any other instrument is need a correction even Gold with the ongoing war finally hit correction, maybe Oil is the next. back to bitcoin, the 4 year Cycle in my opinion isnt relevant anymore it simply because so many instutional now buying bitcoin and now btc heavily correlated with the world event

I wouldn't say the 4-year cycle is completely irrelevant yet, but definitely the "powers that be" have now captured Bitcoin in a way I never hoped it would have. I think that the biggest flaw in Bitcoin is that it relies far too much on human greed. Somewhere along the way, it became only about price increases and getting rich and far less about true freedom.

[Findingnemo]

I don't see any breakout, the price of bitcoin is swinging in the 68K-73K range for a while now, so those ETF money didn't do much at all to the crypto market and I expect the price to move the similar trends for a very long time with unexpected turns that is what the bearish trend is all about.

[Dunamisx]

The Bitcoin market can react at any time in any way, hence, this calls for us to ensure that we do the necessary research and speculate on the market before engaging in other things, some market performance could appear as if it's a breakout and before we know it you only got to discover that it was just a fake out at times to make those that are making decisions to go in losses or to make profit as the case may be except we are well prepared for either.

[asriloni]

I wouldn't say the 4-year cycle is completely irrelevant yet, but definitely the "powers that be" have now captured Bitcoin in a way I never hoped it would have. I think that the biggest flaw in Bitcoin is that it relies far too much on human greed. Somewhere along the way, it became only about price increases and getting rich and far less about true freedom.

Without the greed, each bitcoin would not be priced 5 figures. It's helping bitcoin to go up even when it was started from zero. I know you're concerning how bitcoin is starting to be irrelevant from being a freedom of currency due to the speculators, but that's the consequence when we're willing to see bitcoin to be massively adopted.

[dansus021]

~SNIP~

I wouldn't say the 4-year cycle is completely irrelevant yet, but definitely the "powers that be" have now captured Bitcoin in a way I never hoped it would have. I think that the biggest flaw in Bitcoin is that it relies far too much on human greed. Somewhere along the way, it became only about price increases and getting rich and far less about true freedom.
[/quote]

Most of the people already said that 4 year cycle is irrelevant tho is debatable one of the reason why its simply bitcoin has been widely know by lot of people including big company like BlackRock.

Tho my reason why bitcoin bottomed at 60K because at weekly candle you can see a equilibrium level and major support that previously resistance zone



If we take a drawdown from previous ATH hit bottom is -77% and if we took the same line from the previus one we are gonna se bitcoin bottom is 20K level and damn this gonna be doomed