Quote from: slaman29 on June 29, 2022, 09:16:56 AM

Quote from: JohnBitCo on June 28, 2022, 03:12:10 PM

Well, it may seem that bitcoin might go to 15K only because it is just 5000$ below or only 25% loss in value but it won't be easy. The reason is that everyone knows the potential of bitcoin and the long vision investors and whales will buy at every dip and we may not find the 15000$ mark. However, keeping the fundamentals and current fiat collapse & inflation, 50,000$ or beyond is more likely to happen even though there is a difference of 30,000$ to reach there.

Quote from: Sayeds56 on June 28, 2022, 10:39:22 AM

I think if current weekly candle closes above 20,387 which is a pivot point then we can expect a relief rally in July,22 that can take Bitcoin price to around 25K. The reason of being optimistic is 2 consecutive weekly green candles, crossover on MACD day chart as well as crude oil price has come down from $120 to around 110,(hope this trend will continue) that is the main driver of inflation world wide. Let's watch and wait how market plays out in July. DYOR

Well, looks like today we again broke 20k support. Yes we bounced back and still above it right now but it doesn't look good at all, and I think this week we receive more bad news from US economy (jobs and GDP growth). Pricing in is happening as everyone expects bad news so the bright side is that if we get any data that's even a little better than expected, we might see a rebound but I think 22k is where we need to hold first until next week.

You are absolutely right, Bitcoin need to hold around 22K before it moves further up but unfortunately it again broke 20K yesterday which is very importance support which is sign of weakness in the market. Bitcoin has shown strong co-relation with US stock market during the past month which is against its perception of store of value and hedge against inflation.