Bitcoin bottom is gone, last chance to buy incoming

[atookz]

No explanations are required I guess, Bitcoin will retest the 200W Moving average and then there will be no chance to buy Bitcoin below this price in the whole cycle.
I wish each one of you, a happy bull run ahead. Cheers, see you soon with another chart.

Thanks for sharing the chart OP! One observation I made is that the orange line on the chart is the 200 SMA on the daily time frame ($71.9k), and your post mentions the 200W MA. However, as I see it, they are two different indicators, and the chart doesn’t really support the 200W retest idea yet. Which one do you mean? It would be nice if you can explain the reasoning to those of us who aren’t as used to reading charts.

I also agree with the others here that last chance to buy is a pretty strong statement. It appears to have formed a nice base at $58k in June/July and has jumped above the 200 day SMA, which is a positive development. But some already commented that it is not an impossibility to get a wick back down to the $60k area and I suppose that is correct. Having a bottom in place doesn't necessarily equal the end of the bear market, and the market has fooled us many times over.

[Agbamoni]

Aggressive buying begins this week 

The chart is well presented, and the analysis should be right. Before I came across this post, I had already prepared myself for the next market trend. It wasn't the bear market I had in mind, but rather the bullish trend. I'm happy that the chart is doing justice to my predictions instead of contradicting them. Time to pack as much Bitcoin as one can get before the market swing.

[fullfitlarry]

Aggressive buying begins this week 

The chart is well presented, and the analysis should be right. Before I came across this post, I had already prepared myself for the next market trend. It wasn't the bear market I had in mind, but rather the bullish trend. I'm happy that the chart is doing justice to my predictions instead of contradicting them. Time to pack as much Bitcoin as one can get before the market swing.

I guess aggressive buying should have happened when we are in the $60k'ish, at least near the lowest low during their cycle. Now the price have really gone up to $80k, although it is not late to still buy continuously using DCA.

And so it's good if the chart presented is still valid, as we all know that a simple tip, might make it invalidated. But we will have to wait and see, it seems though that the market is ranging from $80k-$85k and there are no more that huge fall and so for now we might say that we are safe from getting into the bottom.

[rbynxx]

The interesting part is the way BTC respected those 200W MA in the previous cycles before, but this should have been expanded rather than just the year 2022. If history repeats and we see another retest maybe around $70K before the next major leg up, that could be one of the best opportunities everyone wished they trade for. Yeah, nothing is a guarantee, but the risk of waiting for a crash is missing the move entirely. I'm curious to see if this cycle will follow the same pattern or it will surprise everyone again.

Honestly, I was expecting a big surge this October. We have already entered the second week of this month but have not seen a significant price surge. Or we might just have to wait until the end of year closing, the situation for which is still uncertain.
I am not sure about retesting $70k, although it could happen. But I still hope the price will continue to rise without dropping to that level. We have already passed the lowest price. A drop not as deep as what has happened could still affect what happens in the market.

I think we are all expecting October to bring a good upward movement, but the market doesn't always play out with way we expect it. There's still a good amount of time before the year end, so I wouldn't rule out that we will not see a bullish move. As for the $70k retest, I wouldn't dismiss that possibility. Bitcoin has surprised us too many times with the unexpected corrections, even when things looked bullish. I'd rather see a price that build strong support at these levels than rush an upward just to lose the gains for a few weeks later. That's a shame.

[Noorooo]

I think so bro its to early to say that bitcoin bottom is gone.Because the market always surprise us and i think we are going below 200W moving average .When we come below 200W moving average then there might be some panic created then the BTC will moves towards 90K zone.but i  m also not fully confirm that this thing will play out maybe your anaylsis plays out but first lets wait for the confirmation instead of asumming the worst or getting to confident.But bro to be honest this 200W moving average is not that accurate or good but lets see what plays out..Nobady can predict the market 100 %.

[As-Soon-As]

No explanations are required I guess, Bitcoin will retest the 200W Moving average and then there will be no chance to buy Bitcoin below this price in the whole cycle.
I wish each one of you, a happy bull run ahead. Cheers, see you soon with another chart.

The price of Bitcoin has been corrected considerably and during the sharp decline, those who have bought Bitcoin and held it for a long time are the best and most effective for holding Bitcoin. Because if they hold it for a long time, they will definitely be able to create the opportunity to make the most profit, but there is still enough opportunity to buy Bitcoin for those who buy Bitcoin on a weekly or monthly basis. Because Bitcoin will definitely increase in price after that,
so it is best to buy Bitcoin at the current price before the final price increase, if you observe the price of Bitcoin in a cyclical form, then the current time is the right time for correction. So if you buy Bitcoin at this good time, you will definitely have the opportunity to make more profit in the future.

[Kryptowerk]

No explanations are required I guess, Bitcoin will retest the 200W Moving average and then there will be no chance to buy Bitcoin below this price in the whole cycle.
I wish each one of you, a happy bull run ahead. Cheers, see you soon with another chart.

Okay, interesting. We did have some new lows today compared to the price on the 10th but that was corrected quickly again. Generally speaking, though, I see a similar trend as you describe.
Would like to hear some more details on your reasoning... and obviously curious to see how your prediction holds up.
I am also looking forward to new ATHs, would be surprised to see them before late 2027, though. Long term I'm 100% bullish anyway.

[OgNasty]

No explanations are required I guess, Bitcoin will retest the 200W Moving average and then there will be no chance to buy Bitcoin below this price in the whole cycle.
I wish each one of you, a happy bull run ahead. Cheers, see you soon with another chart.

Okay, interesting. We did have some new lows today compared to the price on the 10th but that was corrected quickly again. Generally speaking, though, I see a similar trend as you describe.
Would like to hear some more details on your reasoning... and obviously curious to see how your prediction holds up.
I am also looking forward to new ATHs, would be surprised to see them before late 2027, though. Long term I'm 100% bullish anyway.

I see a head and shoulders pattern emerging in the recent run up off the lows in that chart. It could very well turn out to be the case and brings us back to retest the lows in the next several months. If it does though, that will be the bear trap and it will be off to the races for the bulls. I worry up only from here with no retest of the lows could lead to a shaky market in 2027.

[SatsPH]

I see a head and shoulders pattern emerging in the recent run up off the lows in that chart. It could very well turn out to be the case and brings us back to retest the lows in the next several months. If it does though, that will be the bear trap and it will be off to the races for the bulls. I worry up only from here with no retest of the lows could lead to a shaky market in 2027.

So it could really mean that we are not out of the bear market yet. There could still be some events that can really pull the price down. I don't like to say it, but there could still be that one black swan event in the future.

Price is set to $81K end of the week. And I'm not expecting any movement this weekend as the market is going to be slow then. And long term though, we should really be on the lookout as there are still a chance to maybe seeing the bottom for this bear market.

[DPHOR]

I see a head and shoulders pattern emerging in the recent run up off the lows in that chart. It could very well turn out to be the case and brings us back to retest the lows in the next several months. If it does though, that will be the bear trap and it will be off to the races for the bulls. I worry up only from here with no retest of the lows could lead to a shaky market in 2027.

We have been too expectant of the market to single handedly break out so easily but seems not making any changes as we may see it. Realistically, anything is possible to happen from now as the Year hasn't end yet. From what I am observing, this year has seems to be entirely different if we are to follow historical record of the previous Q4, at least by now Bitcoin could have increased to nearly at least 89-98k if not of breaking out 100k before January next Year. I believe there would be a force to break it out and this will positive news.

[Asiska02]

We have been too expectant of the market to single handedly break out so easily but seems not making any changes as we may see it. Realistically, anything is possible to happen from now as the Year hasn't end yet. From what I am observing, this year has seems to be entirely different if we are to follow historical record of the previous Q4, at least by now Bitcoin could have increased to nearly at least 89-98k if not of breaking out 100k before January next Year. I believe there would be a force to break it out and this will positive news.

The market still doesn’t look to be underperforming as it is now. After the bullish market comes the bearish market and this is what we are seeing from the market currently. The market has not really performed that bad and even if we see a continuation of this pattern till next year, that doesn’t mean that the market has lost its grip and calls for panic from its users. Bitcoin might continue to show some consolidation, but that doesn’t mean that a breakout is not imminent any moment from now, that also shouldn't come as a surprise to us when it happens.

[YOSHIE]

No explanations are required I guess, Bitcoin will retest the 200W Moving average and then there will be no chance to buy Bitcoin below this price in the whole cycle.

Yes, two days ago I sat in a coffee shop in my area with a Bitcoin expert in predictions and speculation.
He told me, just like you said today, people will regret it 100x when they don't consider investing in Bitcoin in the current market cycle, he said this is a good and last chance that Bitcoin users in general have to buy whatever they can.

This expert predicts and speculates that the price of Bitcoin at the end of 2026 will be the last chance for all of us to see the price at the $80k level in 2027. Bitcoin will slowly soar to its highest point, unfortunately he does not want to say what the highest price will be.

At the end of our conversation he said consider it and don't regret it later.

[Pandorak]

We have been too expectant of the market to single handedly break out so easily but seems not making any changes as we may see it. Realistically, anything is possible to happen from now as the Year hasn't end yet. From what I am observing, this year has seems to be entirely different if we are to follow historical record of the previous Q4, at least by now Bitcoin could have increased to nearly at least 89-98k if not of breaking out 100k before January next Year. I believe there would be a force to break it out and this will positive news.

When analyzed based on price action & POI, the $98k price level is the highest weekly resistance after $87k. Therefore, for Bitcoin to truly rise and reach that price, there must be strong buying pressure, typically accompanied by fairly high volatility, such as positive news that has a significant, direct impact on the market. For now, the nearest and strongest support level is at $75k, this can be considered a key level because if there is a breakout at that price, Bitcoin will continue its decline until it hits $67k. I think under these conditions, the $98k price level will become even harder to reach.

[EluguHcman]

From the market movement, it shows that the bear market is coming to an end and we might not be able to buy at a price lower than $58k+ because that seems to be the bottom. The market has two phases and if it's not bearish, it's bullish.

I guess this motivation was inspired when we marked Bitcoin in $87K top price after the $57K bottom while $88K was a resistance.
During the recovering from the bottom there had really been that anticipations amongst investors who were thoughtful and confused to detect if the bear market had been over due to the short term uptrend was also impressive to oversight the bullish ness.

I think this unpredictable price movements should be able to tell us not to be motivated because of short term trend because change can always be constant.
It is true that we only have two sides market trends but out of them, we are still in the bear with the market movement not showing any bullish sign yet instead, the price has only be reducing. I saw $79K early today.
So we should not be surprised when we see the market experience more falls or lower bottom.

[STT]

I would normally disagree, 200 week is too harsh a pullback and we already contended with that multi year measure this year so a revisit is over aggressive.   A normal pullback is back to the 200 day simple moving average and thats quite bad enough for most in sentiment terms it'd match.

  However the 200 day and 200 week aren't too far apart and both are rising perhaps converging.  So possibly we meet either in future.  Present action has BTC 3 days closing below the 50 day average which is really needed for the positive action to continue on and we'll get the weekly bar closing tomorrow to confirm that also.
  If BTC doesnt close below 75k that'd dispell fears as overblown, its really only just now confirming weakness but with unknown strength.  I expect dollar to break lower not move higher personally.

[Y3shot]

I'm sure waiting to buy at the bottom has prevented a lot of people from buying Bitcoin. The reason is that people can't even predict the price of Bitcoin, and many have a specific price they consider to be the bottom. The only way for investors to seize the opportunity to buy at the bottom is to be consistent in buying Bitcoin. When you are consistent with buying Bitcoin, you have the opportunity to buy at different prices that seem good.

[Woodie]

No explanations are required I guess, Bitcoin will retest the 200W Moving average and then there will be no chance to buy Bitcoin below this price in the whole cycle.
I wish each one of you, a happy bull run ahead. Cheers, see you soon with another chart.

Am not a fan of moving averages because when I started to learn how to trade someone sold me these as indicators 

Anyway looking at this chart 📉📈, I see this could be on the yearly timeframe and going by my strategy I might argue that the low isn't gone forever.. I see a change of Market structure or CHoch which means market could be going down based on this time frame, but be cautious to see what higher timeframe bias is saying...and if it's a bearish market, not ready for this.

[pooya87]

In this period (ie. WW5) people should not analyze any markets just by looking at their charts. TA didn't work well in the past and it definitely doesn't work in this period of destabilization and uncertainty.

This is why I have had a different definition of concepts such as "bull run" for a while. We are not going to see major runs like the past and it cannot be concluded based on charts. That's a global economic situation that is deteriorating thin...
We will see a lot of going sideways (like these days being caught between $75k or $80k and $85k for a long time) followed by smaller rises (like the way we got out of $60k range and got here).

But that's in case nothing changes and the global economic hardship continues as it is. If things changes, what I just said becomes moot. I explained some dire stuff in this comment the other day. If this happens (the undersea internet cable thing) we may see a wave of FUD followed by panic sell that would lead to a crash instead of any kind of rise or bull run.

[YellowSwap]

There is too much uncertainty in this market right now,  there is no point been bothered about price action,  October is almost over now and I don't see how this month will be bullish.

It's sure going to be a dumptober and maybe in November we will see good price action, although things seems to be mimicking the chart of 2022 again but anyways I wouldn't bother too much about it..

I will leave the problem for people who want to catch the perfect bottom as for me I don't need to, I keep buying Bitcoin either ways, 2027 is all I got in my mind for now..

[5W-KILO]

I'm sure waiting to buy at the bottom has prevented a lot of people from buying Bitcoin. The reason is that people can't even predict the price of Bitcoin, and many have a specific price they consider to be the bottom. The only way for investors to seize the opportunity to buy at the bottom is to be consistent in buying Bitcoin. When you are consistent with buying Bitcoin, you have the opportunity to buy at different prices that seem good.

People believe that there is a massive difference between buying at 80k and buying at 70k, for someone who is accumulating Bitcoin slowly why should they even care about all these?

It's looking like we are heading back to 75k but it doesn't even make any difference, I stopped watching price action since I don't trade everyday, I instead focus on my DCA strategy for now.

It's not victory for me until Bitcoin reach 100k again, then will be the time to start feeling good about all my buying decisions so far, now is not the time for that, keep buying is all I have to keep doing for now..