Quote from: _BlackStar on October 02, 2023, 06:16:28 PM

Quote from: AprilioMP on October 02, 2023, 04:24:03 PM

Especially with today's price chart situation, I am starting to be optimistic that the history of Bitcoin prices in October will be positive, which is different from the chart display last month.
Even though I speculated that this month I still needed extra energy to hold, I didn't change that statement before the bitcoin price broke a new high.
However, starting with the bitcoin market price from October 1 until now, I have started to feel a positive trend.
$26,970 opened and is now sitting at $28,078.

When $28k starts to hold until the close of the first week of October, we will be prepared to see higher prices as $28k will be a good support price.
Hold is still required.

Prices can still change at any time - but your optimism about October is certainly justified by the analysis of other users before you. October is a good month to expect price recovery - that has been proven by the break of $28k resistance in the last 24 hours. The problem is whether $28k can last longer or maybe it is only temporary before panic among traders occurs.

I'm not talking about market sentiment - but bitcoin should be more able to appreciate October to recover. Don't know what could push $30k resistance through now - but if $28k becomes strong support then $30k can be expected to break.

I was expecting that maybe the price would at least go over $29k but unfortunately, it started dropping back after reaching $28,580 and has already dropped below $27k which means that $28k isn't support but is becoming the resistance now and Bitcoin is having a hard time going above that range. Most of us were expecting that this month might do something for the market, the starting looked good but we will see the progress in a couple of weeks, I guess.

Short-term traders who might have bought at $26k must have sold when the price went up to $28.5k, and if we talk about panic sellers, they might not start reacting very quickly but if the price of Bitcoin moves below $26k, that is when we might see panic sellers starting to react to the price.