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

[dwyane36]

I don't think the 65k level is that important, honestly.

The two "attempts" to break through were during a downward movement, around July 30 and August 8. But it had broken through just a few days before the first attempt, only to fail at 67k. Now we're seeing another attempt but it is still early to say if it will be successful.

IMO it is however much more important that there was no lower low below the 62.5k area after the second 65k high on August 8. Many would have expected the Coldcard hack (July 30/31) to trigger a more substantial downtrend, but that hasn't happened. The hack instead happened already during a small downtrend, but there was no panic sale afterwards, just another two lows in the same area than in mid-July. Not even the 60k were seriously in danger. This is actually showing strength, I think.

For the price really to fall below 60k there must be some sentiment change imo. I don't rule out that if we stay in this range for several weeks more then bears could make another attempt as buy orders could wane away. I'd say the probability is high though that even if a dip in the 50k area happens, the price could bounce back rapidly. Negative news wound change the picture, of course.

Since the BTC price has been hovering around $65k for most of July, and even into August, I think this is an important level, but only in the short term. If you look at the BTC chart on higher time frames, you can see that BTC has been consolidating within a narrow range for almost the entire summer. In my opinion, this is a bearish signal, indicating that the downtrend may soon continue, possibly even down to $50k.

[Just Say]

Bitcoin price has been rejected at $64k and this is indicating a strong support, so if it is well supported and does not face any obstacles then maybe we can say its price can reach higher levels. You imagine, currently there are various speculations about the Strait of Hormuz which has resulted in a very weak global economy, that is definitely having a big impact on the price of Bitcoin not increasing but even then the price of BTC has not reached below the $60000 mark at the moment and has not been able to bring about a sudden change in the market trend.

so I think it is difficult to predict whether the market will fall from $55k to $48k to $32k. Looking at the current market performance, it seems that we are in a very monotonous market situation because instead of an upward trend, there is a downward trend, in addition, there are some companies like Micro Strategy that are not buying Bitcoin, and Strategy is only increasing its dollar reserves by selling stocks, maybe they are also afraid of a big price drop.

[Brizi5000]

A direct answer to the question if bitcoin got rejected at $65k again then it will be dragged downward and  continue to revolve around $61k to $63k cus so far I don’t see bitcoin price going below $60k at the moment because the support is receiving currently at $64k has been really massive and which indicates that there’s still a possibility of a breakthrough. But all of these are just speculations which traders usually should be doing and not for a real investor whose original purpose is focused on a long term consistency.

[maydna]

The thing we expect is the price can fall to below but I am not sure if the price drops below $60k. Although the possibility still wide open to drop below $60k, perhaps that will not happens in the near unless more bad news comes and shaking the market.

Doing research is the thing you can do to know what happens is to the market. You will be ready with anything and could deciding based on the market situation.

But we don't have to worry with speculation because that just makes you afraid to decide and could make a wrong decision so research will helps you to find out.

[Y3shot]

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.

There is nothing to do but DCA if the Bitcoin price drops. If the Bitcoin price drops to what many do not expect, I think it will be interesting. Despite many not knowing what the price movements of Bitcoin will be, I'm still anticipating what the bottom of Bitcoin will be like.

Buying Bitcoin is the best thing to do if the price of Bitcoin dips because there is a good gain from doing so. There is no reason to panic if the price of Bitcoin dips.

[Itz-prisigold]

I think investors should probably just take their mind off from all these short term price movement and just focus more on how they can use this situation as an opportunity, instead of seeing rejection as something bad.  So even if the price drop below what we're expecting, smart investors will only see it as an advantage. A lot of speculation about Bitcoin as been around way too long and somehow Bitcoin is still very strong.

We all know that the market is very unpredictable, and the market price doesn't move the way we all are expecting it to go.  So I will not be really surprised if the price catches people off guard.

[philipma1957]

If it leaves the 57-82 slot I have  interest

We basically have move in that range for months and months.

Until it drops to 55k or hits 90k all else is meh

[Jaweria parveen]

Bitcoin price has been rejected at $64k and this is indicating a strong support, so if it is well supported and does not face any obstacles then maybe we can say its price can reach higher levels. You imagine, currently there are various speculations about the Strait of Hormuz which has resulted in a very weak global economy, that is definitely having a big impact on the price of Bitcoin not increasing but even then the price of BTC has not reached below the $60000 mark at the moment and has not been able to bring about a sudden change in the market trend.

The price of Bitcoin is still at this level, which shows the rise of Bitcoin. If there is an obstacle in the price of Bitcoin, then Bitcoin will go up and down, which will make a difference in this price and we will look at the price separately. This thing has also had a lot of impact on the price and the price has also kept itself up and down and this has also made a lot of difference in the dollar, due to which if the Strait of Hormuz opens, the price of Bitcoin will be quite good and the price will go above $ 64,000 and this price can go above $ 70,000 and this level will be better for strengthening. The strong support of Bitcoin is above $ 60,000, so even if the price of Bitcoin goes down, the price falls a little and comes up, that is why the market is moving above $ 60,000.

[WatChe]

A direct answer to the question if bitcoin got rejected at $65k again then it will be dragged downward and  continue to revolve around $61k to $63k cus so far I don’t see bitcoin price going below $60k at the moment because the support is receiving currently at $64k has been really massive and which indicates that there’s still a possibility of a breakthrough. But all of these are just speculations which traders usually should be doing and not for a real investor whose original purpose is focused on a long term consistency.

I would say that if Bitcoin got rejected at 65k then it will go down a bit and then move up again towards 65k, this cycle will repeat itself until Bitcoin will be able to break the resistance of 65k. We are free to speculate about what will happen to Bitcoin in future but its a fact that no one can accurately predict future of Bitcoin. Those who are long term investor, for them this is not only a time to hold there already accumulated Bitcoins but also grab more Bitcoin available at discounted price.   

[Emitdama]

A direct answer to the question if bitcoin got rejected at $65k again then it will be dragged downward and  continue to revolve around $61k to $63k cus so far I don’t see bitcoin price going below $60k at the moment because the support is receiving currently at $64k has been really massive and which indicates that there’s still a possibility of a breakthrough. But all of these are just speculations which traders usually should be doing and not for a real investor whose original purpose is focused on a long term consistency.

Mainly, people are asking this because it IS being rejected at that price for a while now. We are near 65k but fail to go up, and so far every attempt has been broken, and people are selling to make sure it stays under.

It means that it is not "what if" situation anymore, it is what is going on already, and I think it is quite important to realize that we are going to end up with something that would not be reasonable at all to assume that we are living in the post-question world right now, this question was asked when we were attempting but not rejected this many times yet, so far we have been rejected so many times, which is why I do not think that it is that questionable to see something like this, it is normal.

I feel like the best thing we can do at the moment would be making sure that we are dealing with something that is getting a lot better with time, and maybe in the end we go up, but not right now, right now it is failing to break out, so that means we are going to go down, and we have to learn to live with that.

[LastKiss]

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

~snip~

My chart saying we still have plenty room for Bitcoin to reach $68K in short term, creating a deviation above the $60K–$66K range. If we get rejected around $67K/$68K, there’s a possibility that we could drop to around $55K and a quick recovery would be very possible since many people are placing their bids around that level.

I’m curious what news will bring Bitcoin big moves next because we’re already saw Strategy selling their Bitcoin, the Coldcard wallet hack, exchange shutdowns and many other things. For the date I’m expecting the big move to happen around September but let's see.

[AprilioMP]

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

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.

But for this August, I have no doubt that Bitcoin could reach $65,000 or even go above $65,000. Even if it fails to reach $65,000 and drops to $55,000, $48,000, or below $40,000, that might be when the price bottoms out—and since many analysts have already anticipated this, they’re prepared to accept that scenario. When that happens, it will be a great opportunity to buy more Bitcoin than usual. If, at current prices, you can only buy 0.001 Bitcoin, perhaps when that happens, you’ll be able to buy more than 0.001 Bitcoin with the same amount of money.

[Dr.Bitcoin_Strange]

But for this August, I have no doubt that Bitcoin could reach $65,000 or even go above $65,000.

I guess you didn't even look at Bitcoin chart before you made this comment some hours ago, if you did, you might have noticed that Bitcoin already got to $65k yesterday, and based on what I previously said, I believe that price of Bitcoin was already targeting to take out the double top which it formed and that's absolutely what happened today, big profit for a trader who took a long position earlier yesterday and is holding till now. For those that bought when price dipped to $58k, they would be happy to have seen some profits. The spike might still continue but a retail trader must be watching the $73k resistance zone on the 4 hour time frame because price is likely to get there before dropping again if at we are not already done with the bottom.

[Marvelockg]

We all know that the market is very unpredictable, and the market price doesn't move the way we all are expecting it to go.  So I will not be really surprised if the price catches people off guard.

And boom... it did caught a lot of people off guard and most of the people that were to hasty to conclude on where bitcoin can or can not get to have suddenly been proven to be wrong. seeing bitcoin getting to $69k after a lot of people thought it was never getting that high at least so soon is just damn fulfilling. at least when we talk about bitcoin  getting back to the previous all time high or even superseding it, people will know that it is actually possible  and that it is just a mater of time before bitcoin eventually prove all skeptics wrong.

[JiiBs]

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.

You’ve had to consider some lows that I consider to be way too below what is feasible for a price mark that is around $69k. Yeah, Bitcoin is around $69k at the point of writing this comment which is way ahead of $65k. There was no chance we were going to see any sharp decline in price below the $50k mark of it ever did get to that point because, Bitcoin have seen a lot of investment from the whales and governments alike, of course there would be certain attempts to pump in money to push price a lot higher.