What Happens Next if Bitcoin got rejected at $65k Again

[Aanuoluwatofunmi]

What Happens Next if Bitcoin got rejected at $65k Again?



https://x.com/i/status/2088996955322003824

We have been seeing the market attempt to overcome the resistance and move above $65,000, but the support has been too weak to make this possible. This is why we have consistently experienced retracements after every attempt to rise above this range.

Another factor we could consider is the fundamental aspect of market price performance: the effect of breaking news has a short-term influence on the market price performance over a particular time; maybe this would also be another reason why there has always been resistance at this range.

Lastly, we are in a new week and the market is pumping with the indication to have a strong support at $63,000 this could give us another reason why there is going to be high probability of pushing towards $65,000 and above if it was well supported and not resisted, but if the attempt failed, what should we expect, a market fall to $55,000.00, $48,000.00, or even down to $32,000.00, also know that this is just a speculation and there is no certainty to such happening, hence you can do your own research, but this is what I saw online others are discussing about, what is your own opinion.

[rbynxx]

That seems plausible, but what if we break above $65k as well? We've seen these kind of moves that seems possible but we know also how bitcoin moves in unexpected way that also keeps humbling tourists. I'd take this chart of yours as guide and it would be cool if it just chops around here, but as you also said, fundamentals are also another factor to consider but I don't see any good catalyst of that either, the market just not expecting any new. For me, right now is just a boring market.

[Oshosondy]

The support is very strong at $63000, but there could still be a resistance at $67900. But if bitcoin go back below $60000 which is hard to predict now, it is not going much further down as usual before a massive buy and buy back will begin again.

I can see many people saying that bitcoin may bottom in October, but be it or not, all I know is that people can DCA and later be happy about it.

[Ojima-ojo]

The support is very strong at $63000, but there could still be a resistance at $67900. But if bitcoin go back below $60000 which is hard to predict now, it is not going much further down as usual before a massive buy and buy back will begin again.

I can see many people saying that bitcoin may bottom in October, but be it or not, all I know is that people can DCA and later be happy about it.

Failure to hold the resistance zone of $63k price, then Bitcoin could face another bearish trend although just short term speculations, but if that down trend continue into October as you mentioned it means that the speculation above could become reality and the remaining part of the year can become really bearish for Bitcoin and ending the year even below $55k price.


DCA is the best approach to avoid all the unnecessary Bitcoin market drama originating from it volatilities since, DCA approach give you the long term structure, but trader's will keep on speculating the price so we can't avoid discussing the daily chart price analysis.

[Aanuoluwatofunmi]

That seems plausible, but what if we break above $65k as well?

Very possible that we have it otherwise, dealing with a volatile market like Bitcoin in cryptocurrency could lead to any experience both under the bullish or bearish pattern, anything as well could lead to a sudden change on the market direction based on its performance and how it was able to react on the event of a breaking news and other factors that determines the market price, but all things being equal without any sudden reaction, it's likely to be bearish, while at the same time, could go bullish if we continue to have this strong support at $63,000 we should prepare for the best and expect the worst.

[Hatchy]

Lastly, we are in a new week and the market is pumping with the indication to have a strong support at $63,000 this could give us another reason why there is going to be high probability of pushing towards $65,000 and above if it was well supported and not resisted, but if the attempt failed, what should we expect, a market fall to $55,000.00, $48,000.00, or even down to $32,000.00, also know that this is just a speculation and there is no certainty to such happening, hence you can do your own research, but this is what I saw online others are discussing about, what is your own opinion.

This is just speculation, and if you look closely, there is actually nothing new. These kinds of speculations are often put out there with the intention of creating FUD. We already know how many weak minded investors react to articles or speculative information about price. Indeed we may have just hit a bottom, but the price is still too weak to break above the strong resistance levels created there. To see this clearly, check an up to date BTC chart and draw a trend line on the monthly timeframe. You will see that the price has just reached a strong trend line.Personally, I don't like relying too much on short term speculation. I prefer looking at long term trends because they give me a bigger picture and a better understanding of where the price might be heading. In the short term, we are still fighting to become bullish. But in the long term, it is possible that the price has already found its bottom.

[Frankolala]

We are gradually, getting close to the deadly month of Bitcoin to see if the price of the bottom will dip below $50k. I am not expecting bitcoin price to go above $65k at this time of the market because I'm expecting a downward movement and not the opposite. Though, I might be wrong because no one can predict the market correctly. Traders should be very careful at this time.

[Pandu Geddon]

what should we expect, a market fall to $55,000.00, $48,000.00, or even down to $32,000.00,

I don’t see it happening. If we get a drop, I think we won’t go below $55k. Bitcoin’s price may soon return to $60k. We are in a rather boring market situation, but this is something we have to put up with for a long time. I don't think we'll see a new trend coming soon. But let’s see if Bitcoin can hold for longer or not when it hits $65k.

[Agbe]

what should we expect, a market fall to $55,000.00, $48,000.00, or even down to $32,000.00,

I don’t see it happening. If we get a drop, I think we won’t go below $55k. Bitcoin’s price may soon return to $60k. We are in a rather boring market situation, but this is something we have to put up with for a long time. I don't think we'll see a new trend coming soon. But let’s see if Bitcoin can hold for longer or not when it hits $65k.

I didn't see it coming to $55,000 too. I have said this in many occasions. Bitcoin will be roaming around in between $60,000 to $65,000 until the bear season will be over. And if it drastically comes down, it will be $58+k and it will not below that figure. It is only two weeks that is left for this month and after next month the movement will be on the rise till next year and next year, what happened in 2024 might repeat itself again. Therefore I am analysing bitcoin from the 4 years cycle.

[hyudien]

As I recall since entering August, the price of bitcoin has twice reached 65k but did not last long, my speculation may be there will be a decline after not being able to maintain that price but not until less than 60k, one of my reasons is because of the sale made by MicroStrategy which may cause concern for some investors or traders. The market is quite sluggish this week, so traders are expected to be cautious.

[GreatArkansas]

For me, it's been a few months. I keep saying that as long as we are holding above $60,000, even for more months, I'm good. I can keep buying more. I am really confident and feel safe with just that.
So, if ever this will be the longest "winter" market, I'm good, I can enjoy buying more cheap Bitcoins.

[Dr.Bitcoin_Strange]

From the weekly time frame, the strong resistance level is at around $80k price, while there is also a double top that price has formed at $67k, you can see it very clearly on the daily time frame candle, I am speculating that price is going to go above that $67k because of the two tops it formed already but that can be possible only if this week maintain a bullish moment.

Although, price could still dip after taking out the double top because there is a fair value gap (FVG) between $72k and $65,700 on the weekly candle chart, that zone could cause price to slow down or dip so well, however if price is able to soar through it, then it's going to get rid $80k . If really the bullish momentum continue unaffected by any event, I don't think the $65k price will be rejected.

[Slow death]

In my opinion, if we pass $65,000, it will then have to pass $67,000 and $69,000. If it manages to do that, then we'll see the price reach $73,000, and if we go beyond that, we can be more relaxed because it will reach $82,000. But if it falls below $57,000, then it's more likely we'll see a much more frightening scenario. We would see prices like $44,000 or $32,000 again, which in my opinion wouldn't be very good for those people who bought when the price was $126,000. I know some people in my country who bought when the price was $126,000, and they're constantly complaining about this price drop. I wonder what their reaction would be if the price dropped to $32,000. Maybe they'll go days without eating out of disgust.

And speaking of disappointment, it seems that it's not only the people I know in my country who are sad about this price drop. the Strategy company also doesn't seem very happy with the direction the price is taking.

Strategy raises $334M through stock sales but buys no Bitcoin

source: https://cointelegraph.com/news/strategy-stock-sales-buys-no-bitcoin

When large companies like these aren't buying much, it means they're being very cautious about the price. They're probably expecting a significant drop that would cause them losses compared to the Bitcoin they bought at prices above $70,000. And since $32,000 has proven to be a very dangerous area because falling below that leads to $20,000 or $10,000, they need to be very careful with the current price.

[DiMarxist]

Eventually bitcoin price will overcome this resistance barrier that it seems to be having and move pass this current market range thst it having. And so intead of borthering ourselfs about the price , it will be better and wise to concentrate in holding and accumulating bitcoin rather than this unneccesary pressure that comes with the price. At this point in time bitcoin price correction is well understood by everyone in the bitcoin market so giving it too much attention is not a too good of a thing in my view.

Instead of complaining it will be better to hold, knowing that at this stage anyone who sells will be runing st a lose. Concentrate also in accumulating st this present point in time because that is also important this stage. When price is down that is more opportunity to accumulate much lager bitcoin at a lower price range, which is a very important thing to do if you ask me.

I think that people has gotten used to this, current state of the price of bitcoin that whether the price get resisted and remain below the $65k price tag i dont see any negative reaction from investors who are still holding at this poit in time.

[Creeper0]

We have been used to this movement of Bitcoin for some time now. In the last one month we have seen Bitcoin rise to $65k and fall several times. But the $63k price seems to be holding Bitcoin firmly.

I do not see anything special in the current bullishness either, maybe it is just a normal movement. A big rise or a big fall may be a bit difficult now. However, over time I expect a big fall of the fall which will later cause Bitcoin to rise. From this stage, Bitcoin may not exceed $70k.

[yhiaali3]

Well, it can be said that Bitcoin is facing critical resistance at the $65K level, with strong support near $63K. There are differences of opinion in the analyses about whether Bitcoin's upward momentum will continue or whether we will experience a deep correction at the $55K levels but I rule out that we will reach 32K.....

The repeated failure to hold above the $65K level indicates a relative weakness in short-term buying momentum, as the current market movement is heavily dependent on breaking news and short-term liquidity rather than large institutional buying.

[fredericktaylor]

The price of Bitcoin is very volatile, so it is not possible to say exactly what its price will be tomorrow. Currently, the price of Bitcoin is $64,350, so its price has not increased or decreased much this week. There is a strong possibility that the price of Bitcoin will increase in the coming days, because the price of Bitcoin increases gradually. I hope that the price of Bitcoin will go above $66,000 by the end of this month. Therefore, a future investor can profit by taking advantage of every opportunity properly and holding it for a long time with confidence and patience.

[justdimin]

Going down? We have all known that it will go down for a long time now; it is not really that shocking to see that it would continue to go down even more. We knew that it would, so why would it be weird that it would not keep going down? October or November should be the period where we see the lowest of the low during this bear period, and that is why we are assuming that there is some more time before we start recovering. That means we should be seeing how things are going to change and how we are going to see this become something that will not be easy for you to accept, seeing it go lower and lower, but that is the reality.

If we can accept that, and wait for it to bottom out a bit more, then we can buy when it is lower. This would allow us to make more profit, because we can buy lower and make more profit. Think about it this way: if you buy at 60k and it reaches 120k, you just doubled your money, but if you buy at 40k and sell at 120k, then you just tripled your money.