Market ripe for a price drop

[HarmonLi]

People have been predicting this for weeks now. Thing is: All the panic-attempts seem to fail. The price is more resilient than ever and more and more indicators are turning green these days. Bears seem to be evaluating whether it is still safe to short.

[1714883256]

1714883256

[1714883256]

1714883256

[waterpile]

Any drop below $200 will attract a wave of buyers. 

And a wave of panic sellers.

wouldn't that balances it out

People have been predicting this for weeks now. Thing is: All the panic-attempts seem to fail. The price is more resilient than ever and more and more indicators are turning green these days. Bears seem to be evaluating whether it is still safe to short.

same old pattern, stable for sometime and another dump will come unless if there is a breaking news to pump the price again to $250+

[randy8777]

no one knows what the price will do. unless some large traders buy or dump quite a few coins the price will remain like it is now.

[PenguinFire]

I think it will get to 220 or below before it goes back up but that is just me.

[big ears]

I think it will get to 220 or below before it goes back up but that is just me.

I have that feeling too. It's been a very low volume week and once the volume increases I guess it will be a dump, not a pump.

[Q7]

Bitcoin has so far been so unpredictable. Don't bet on it that it will be a confirmed drop. Sometimes when you thought the market was sleeping, a sudden huge buy order will be coming in and cause the price to go up. We have seen that couple of times and I'm sure there's every chance that it will happen again.

[uki]

People have been predicting this for weeks now. Thing is: All the panic-attempts seem to fail. The price is more resilient than ever and more and more indicators are turning green these days. Bears seem to be evaluating whether it is still safe to short.

Agree. I doubt any number of posts put here in this forum would have any impact on the price. Bitcoin community grew much larger and there is a lot of money in Bitcoin not even knowing about existence of this forum.

[bitwarrior]

Think it's in a holding pattern waiting for the Fed coins to be auctioned.   No one wants to raise the price to let the feds get more in the auction.   In other words, there's a price suppression happening right now.

I tend to agree with your analysis of there is a price suppression due to the impending BTC auction. Well let us hope and see and hopefully BTC will break out and move up to the $300 range soon enough.