Quote from: bestcoins1 on November 25, 2023, 04:18:29 PM

Quote from: jeraldskie11 on November 25, 2023, 02:40:31 PM

In my opinion, bull market happened since march 2023 after it broke the $25k resistance. Just because we are in the bull market doesn't mean we can't see red days. There is always a green day in the bear market and there is always a red day in a bearish market. It's because the market will always make a retracement because there's more demand in the discount zone waiting to fill and send the price higher. Maybe couple of days or weeks from now, retracement will begin and possibly hit $30k, and it's a bearish trend in lower time frame.

Currently the price of Bitcoin is still quite close to $38K, where the low zone may not reach $30K again if a retracement occurs again in the market this year. Soon we will all be in December and I also estimate that a price decline is still very possible in the market, but it will not reach $30K. Because the potential for price increases is still very possible for Bitcoin if demand never decreases and continues to increase in the green zone.

Honestly, $30k is very possible to happen because it's a support zone. We traders and investors might believe that the price won't go down because of the strong demand we currently see in the market. But because there's always a manipulations in the market, the bad news can make the price go dip and we can't resist it since institutions and big banks are behind of the selling pressure. We small traders can't help it but to ride with the trend.