Quote from: rodskee on Today at 03:47:51 AM

Quote from: Oasisman on December 22, 2023, 06:30:41 PM

Quote from: dansus021 on December 22, 2023, 02:59:50 AM

Broke 45K level and sideaway in that level and I would consider the bear market is over and the bull market is coming. but if we look at the chart we can still pretty much down to 40-35K level again or even worse like 30K level.

There are no signs of bearish market currently, not even a sharp pull back is indicative. There might be a slight correction especially during the traders are shorting, but that won't be enough to drag down bitcoin to $30k level. $35k vaguely gonna happen.
I have seen a lot of people in social media being optimistic and bullish towards the halving. That would be enough reason to hold bitcoin at $40k and might play around $41k - $50k before the actual halving. Then the post halving will most probably going to be another huge run.

if this is about 2023 then yeah for me it is also impossible to even drop to 35k because it is
strongly holding the above 40k wee before the year ends , but when January comes and yes with the
coming of Bitcoin halving , I believe that things will change and may experience bad dropping for
preparation in the coming bull market after the Halving.

We should carefully use our words, "impossibility" weighs more than you measure it here. Nothing is impossible in the market, you will just see it happen and will be so astonished by it. Fine, this seems impossible, nonetheless, the level is not so far from the market price. Who knows tomorrow if dangerous news of Bitcoin rejection will make it possible? This is why I would rather say that it doesn't look "feasible" that $35,000 can be hit again this year instead of using the impossibility. The market is so bullish and it has been hesitant to pressure lower with significant effort no matter how hard it tries. This, I'm afraid might continue till the end of this year as this year is almost gone, we have barely 8 days before it ends. However, the main support level now is around the psychological level of $40,000 and the lower level of one of the weekly chart Fibo points at $39,200. I don't think these two levels would be significantly breached lower for now, the market might try but it will likely fail. But a breach of them might be catastrophic as well, as the breach might cause more bearish pressure that might be attempting to target the $35,000 level. For this to happen, there must be a consistent bearish price action on the weekly chart. The market attempted it last week but failed to be consistent in that regard this week as the bears too over again.