Quote from: xSkylarx on October 02, 2022, 11:56:41 PM

Quote from: EarnOnVictor on August 29, 2022, 06:30:22 PM

My question is, will Bitcoin hold the rest of this year above the low of June at 17625.00 or the level will be breached before 2023?

I really believe that bitcoin will go down more before this year ends. There are many factors why I'm thinking that way. National currencies of many countries continuously collapse because of the strengthening US dollar. The continues rate hike in the US also affects other countries' economy. There is also this looming world war 3 because Ukraine recently applied for NATO membership.

The factors I said may not be related to crypto but those events affects the whole global market.

Your points are so valid, but might not cause the persistent pressure on Bitcoin anymore as the mentioned factors are well priced-in. I was with a bearish view on Bitcoin until the last days of September, I am no more a bear. My decision was not because the market is bullish in the long-term disposition but for the fact that Bitcoin is already low, and institutional buyers and holders are queuing at lower levels to help it buy. This is why Bitcoin would try to sell after breaking important support levels, but would still not be able to maintain the selling until the buyers would take over in short-term disposition. This should continue for the rest of the year.

Quote from: Vaskiy on October 02, 2022, 11:05:46 PM

Bitcoin tries to keep the support level at $19k, failing it can make bitcoin reach down to the previous all time low of the year. The market is completely unpredictable, and now price of bitcoin is around $19200. Weeks back price is predicted to go down, but the support level got maintained. There is more chances of downward movement with bitcoin considering the year end bullish move.

In all of my recent analyses, there is no strong or even valid support at $19K, you might want to explain better on this if you have strategies to back this up, let us learn from you. The level was just a coincidence to see the price of the market around it. The most valid support is now at $17,000-17,500 and might be defended by the Bulls as long as possible.

Frankly, Bitcoin might find it difficult to breach the level for the rest of this year, but will still might not make a tangible bullish run till 2023.