Support zone: BTC will retest before continuing to increase

[Faisal2202]

Thank you for your opinion.
I hope that I have been lucky enough to tell the story of BTC in a simple and approximate way. I hope that what I expected will happen: BTC continues to move sideways around Fibo 0.618, if the price flash dumps to $32K it will quickly recover right before the halving.

I wish I could predict the future more accurately, but unfortunately we have to accept probability theory because those are the rules of the financial market 😅

Yeah, I don't fully understand this tool, but I do understand that if the score went below to 0.618 then the price could touch $32k. I don't want to learn this tool right now, I just don't like the name of this tool it looks difficult to learn it but I guess rare things act like that so not everyone could have them hahaha. I also wish sometimes that I would know the future, I wish I had some time machine.

You might find it funny, but sometimes I think about what I was doing 10 years back, I should go back and tell myself to buy as much BTC as I can. But then after processing my mind, I realized, I didn't have the access to internet at that time as I was to young at that time.

[MrSpasybo]

Yeah, I don't fully understand this tool, but I do understand that if the score went below to 0.618 then the price could touch $32k. I don't want to learn this tool right now, I just don't like the name of this tool it looks difficult to learn it but I guess rare things act like that so not everyone could have them hahaha. I also wish sometimes that I would know the future, I wish I had some time machine.

You might find it funny, but sometimes I think about what I was doing 10 years back, I should go back and tell myself to buy as much BTC as I can. But then after processing my mind, I realized, I didn't have the access to internet at that time as I was to young at that time.

This is just a simple Fibonacci Retracement tool available on TradingView. I just compared the current price movement and found it quite similar to 2016 and I expect that BTC will repeat the price behavior. This is just a simple prediction, it is not a requirement that BTC must follow ^^

Anyway, the job of long-term investors is to continue to accumulate a lot of BTC before the bullrun begins with a strong price increase when there is a BTC supply crisis in the market.

Good technical analysis, I agree with you that this is a good correction for BTC and the entire cryptocurrency market. Because falling peaks like this are good behavior, better than harsh and fast candles.

In addition, we saw today how Bitcoin rose and more than 4 billion dollars were liquidated. Today, Grayscale sold 11,800 Bitcoin directly to exploit the rise, meaning its value is approximately half a billion dollars.

There is market manipulation, position liquidation, and technical analysis must take into account the movements of the large ETF companies Wallets because they own huge amounts of Bitcoin and have become a major player in the market.

I hope that I am lucky to predict the correct fluctuation this time. I also do not sell all BTC to wait for a buyback at $32.5K. I continue to hold strongly and wait for the growth of BTC and the entire crypto market.

In my analysis, I took into account the impact of buying and selling BTC from GrayScale and the remaining ETFs providers. Things seem quite balanced in the OTC market and have not had a direct impact on BTC prices right now.

[doc]

I hope that I am lucky to predict the correct fluctuation this time. I also do not sell all BTC to wait for a buyback at $32.5K. I continue to hold strongly and wait for the growth of BTC and the entire crypto market.

In my analysis, I took into account the impact of buying and selling BTC from GrayScale and the remaining ETFs providers. Things seem quite balanced in the OTC market and have not had a direct impact on BTC prices right now.

Are you confident bitcoin will down $ 32K mate ?
because I see bitcoin is increasing now.
Before bitcoin halving, I think it's price will touch $45K.
after bitcoin halving ,I didn't believe bitcoin will have big correction and drop until $ 32K.
But I know, everything can happen at crypto space.
But it seems doesn't make sense.
Let's see..
I want to sell my bitcoin in  bullish, if you prediction right, I will buy more bitcoin.

[Mr. Magkaisa]

        -     This is the analysis that I see based on the imagination that I think and see that could be the direction of the price of Bitcoin in the market. As you can see below:


However, when it reaches 50k$ for each Bitcoin, there may be a breakout or retracement it is also possible to drop 43k$-42k$, and then bitcoin will continue to rally gradually in the market.

[Baofeng]

^^ Thanks for this analysis, I'm also seeing that we might have another break out run to $50k'ish. But since we are still very far from the halving, we might see another correction.

Or the price will just go on another sideways pattern for the meantime next month of February. Sort of just feeling out for traders.
So it could be the calm before the storm and if that happens, then we should take advantage of it.

[MrSpasybo]

Are you confident bitcoin will down $ 32K mate ?
because I see bitcoin is increasing now.
Before bitcoin halving, I think it's price will touch $45K.
after bitcoin halving ,I didn't believe bitcoin will have big correction and drop until $ 32K.
But I know, everything can happen at crypto space.
But it seems doesn't make sense.
Let's see..
I want to sell my bitcoin in  bullish, if you prediction right, I will buy more bitcoin.

Everything is just my prediction for possible scenarios. We have now seen BTC test $39K, a key level, and continue to rise. $32.5K is my expectation zone, not a mandatory zone where BTC needs to retest. In 2016, we only saw one pinbar weekly candle at Fibo 0.5. We will continue to observe BTC price movements over the next few weeks.

P/s: I still keep my BTC for the long-term goal of ATH in 2025 ^^