Due to the fact that there are a lot of long orders sitting at the 5,5k range waiting for the ultimate long makes me believing that bitcoin has to fall under this range to liquidate the longs, so really no one wants to ever hear anything about crypto anymore. The upcoming ETF decision is a catalyst for enormous price swings in each direction. If postponed again, which is very likely, we will see bitcoin on a lower support. The last four rallies failed miserably, but the 6k support was safe. In the last three bear markets we saw in the downtrend a lot of resistance, but this time it went really quick and it is definitely looking for lower lows. The next support is around 5.5k
And after that it will fall to 4k, because in this range we don't see any buyers. Just sellers.
But in general I believe bitcoin will hold over 5k. Since finex, binance, coinbase, bitmax and so on lvl up their coins every day, nothing is sure. Tether get printed as people eat eggs for breakfast.
I don't think bitcoin will dip below 5500$. That is my personal opinion. But bitcoin price swings unpredictably. It could jump or dump even 20 - 30% in one day.
It is very doubtful that btc at 5,000 will ever happen. It will mainly be based on the verdict of the ETF’s. If that fails and it’s not allowed to go through, we will definitely see btc plummet we’ll below $5,000, but a new bull run following is unlikely for several months. On the other hand, I would say now is the perfect time to buy (I have just spent $500 on ripple, $250 on ethereum and alreay hodl Other coins). I beeive if the ETF is accepted, we will see a repeat bull run of last year, eclipsing $19,000 and potentially into the upper 20‘s.
Personally for cryptocurrencies in general I think we're in for a long road ahead and a long down period, I think it's going to continue to get worse before it gets better. I could see bitcoin calling back down the $3,000 honestly before any sort of upward correction takes place. But as cryptocurrencies fall it also gives you an opportunity to dollar cost average your positions if you believe in crypto and believe we'll see extraordinary highs again. Dollar cost averaging can help reduce your overall cost basis on your positions and help you realize larger gains as the prices move their way back upward.
Due to the fact that there are a lot of long orders sitting at the 5,5k range waiting for the ultimate long makes me believing that bitcoin has to fall under this range to liquidate the longs, so really no one wants to ever hear anything about crypto anymore. The upcoming ETF decision is a catalyst for enormous price swings in each direction. If postponed again, which is very likely, we will see bitcoin on a lower support. The last four rallies failed miserably, but the 6k support was safe. In the last three bear markets we saw in the downtrend a lot of resistance, but this time it went really quick and it is definitely looking for lower lows. The next support is around 5.5k
And after that it will fall to 4k, because in this range we don't see any buyers. Just sellers.
But in general I believe bitcoin will hold over 5k. Since finex, binance, coinbase, bitmax and so on lvl up their coins every day, nothing is sure. Tether get printed as people eat eggs for breakfast.
I don't think bitcoin will dip below 5500$. That is my personal opinion. But bitcoin price swings unpredictably. It could jump or dump even 20 - 30% in one day.
View this answer on Musing.io
It is very doubtful that btc at 5,000 will ever happen. It will mainly be based on the verdict of the ETF’s. If that fails and it’s not allowed to go through, we will definitely see btc plummet we’ll below $5,000, but a new bull run following is unlikely for several months. On the other hand, I would say now is the perfect time to buy (I have just spent $500 on ripple, $250 on ethereum and alreay hodl Other coins). I beeive if the ETF is accepted, we will see a repeat bull run of last year, eclipsing $19,000 and potentially into the upper 20‘s.
Personally for cryptocurrencies in general I think we're in for a long road ahead and a long down period, I think it's going to continue to get worse before it gets better. I could see bitcoin calling back down the $3,000 honestly before any sort of upward correction takes place. But as cryptocurrencies fall it also gives you an opportunity to dollar cost average your positions if you believe in crypto and believe we'll see extraordinary highs again. Dollar cost averaging can help reduce your overall cost basis on your positions and help you realize larger gains as the prices move their way back upward.
View this answer on Musing.io