Bitcoin is showing nice consolidation at its support level, which could be a solid spot for scalping long positions. That said, I’m holding off a bit until we see how this month plays out. If it manages to bounce back to 105k, I believe we might see a significant surge this month.
We have seen this kind of prediction hundreds of times. In most cases, the predictions are wrong. I am not going to open any positions, seeing these speculations and predictions. The current price is 104.4K, and I am sure it will reach 105K within a few days. I don't know if June is a bad month, but if the positive sentiment stays, Bitcoin is likely to go up in the coming days. I am not expecting much, though. The world is suffering. Trade wars, weapon wars, and inflation can affect the market greatly.
If the intention is only to accumulate some Bitcoin for long-term investment and not for short-term trading, decline is a great benefit to take.
Speculation is enough to just understand how the action will be taken not for anything else that does not bring benefits to yourself.
For investors who have a lot of money, they don't really care about speculation, which can reduce their positive energy.
I think, for long-term investment, DCA is a good method without having to wait for the time to buy.
$103k, $104 and $105k are not fixed prices.
Well let's just say we don't know if the consolidation direction is towards positive trends but because we're expecting much believing the bull run will last for a while if not for the rest of the year.
Otherwise, since we've met the Ath of $112,509, we just can't tell if the value was going to be the peak for this cycle which then, the consolidation we're experiencing now could as well be a negative direction where market begin to decline while down trending to the bear. But because there had been huge purchases of the instituional investors, we're believing that much more up trends will still come and major breakouts would be the direction of the current consolidated volatility.
My speculations are that we will experience a break of the resistance away from the consolidation zone this month, remember the current support was a resistance few months back and after breaking that only weeks ago, it will in take sometime for it to be broken to become a resistance again, so it will most likely only be retested and then the upwards move may resume and $110k is very possible before June rounds up.
The consolation qe are seeing now I think has lasted awhile enough and so possible breakout is very probable soon from my point view , but then these happens to my speculative assertion and so may not be respected but let's keep a very optimistic mind in the bullish direction for Bitcoin as the chance for it is very high in this month of June.
We are all depended on different speculation though but even with consolidation trends I still think there will be a change due to the market solely affected by inflation and other factors and looking out from the positivity angle there might be a breakout but regardless we should wait on and see what this month holds for us.
Or just like what we are seeing, there is war from the background that might affect the price in short term. So it's either we take advantage of this situation, like scalping (that is if you are good at it), or just continue to accumulate as much as you can in this sideways pattern.
In any still a good indication though, I mean there is no movement maybe except a couple and with that, it means that the investors are just waiting again. It's going to be a waiting game until such time that there is a break out run. And if that happens, then it's good that we have accumulate right now.
This month Bitcoin returned to the price range of $110K plus although after that there was a price correction again but for now Bitcoin is starting to recover again to the price range of $107K and that is certainly very good for Bitcoin and also the market conditions as a whole. I am not too worried about the price correction in Bitcoin because for now Bitcoin is increasingly being eyed by rich people and also owners of large companies with the desire to buy it in certain amounts.
If you speculate about the price of Bitcoin for now, say this month, Yes Scalping Long Strategy is a good step you can take.
You can consider trading in the crypto market at least for daily, but you must also consider the fluctuations of small prices before doing the scalping long method or You can do long -term if you believe in the price of Bitcoin in the stable market at the level of $ 105K, in general your speculation makes sense if you see the development of the current Bitcoin market.
Although scalping is actually that risky but less risky, personally I think it is a very good moth to actually scalp bitcoin one has a large capital because without large capital to open a wide position size in scalping youre simply just taking way too much risk because usually the stop loss is not that small in scalping to avoid been taking out of the market before it moves in your direction.
My reason why I said scalping bitcoin at this current trend is that with the recent war between Isreal and Iran bitcoin has been able to stay stable and consolidating around $103k and $106k. For me this is a sign that a cease fire will be making the market to pump, personally my setup will be longing the market with my profit target been anything above $110,000 while the stop plus will simply be below $101,000. I believe after this consolidation which should take a week more we can see a price pump
People who think this way are very fearful and they will continue to miss out on opportunities. We're in a bull season and someone sees a retracement but they're still scared on pulling the trigger on something they had long wished it was any cheaper. Here nature (market) presents them with that opportunity but they decide to waste it. The only time I will become contemplative on taking profit is when Bitcoin surpasses $150k, and that will depend on how the candle that breaks that price level closes. I gave my reason for that in my previous posts in different threads.
Look at how Bitcoin is performing despite the skirmishes between Iran and Israel. If it were before Bitcoin price would've kept on dumping. That's not the situation now. Once there's any dump, buyers fill it up. Bitcoin is back to $108k+ from its below $103k two days ago or so.
He is positive there and then doing scalping seems pretty risky. So, I don't think people like the OP are fearful. They don't miss opportunities but they always grab it when do scalping, except only if they are only good and telling and there are still no actions that are taken. As for the other, I won't also say that they are fearful but for them, they think a better opportunity can come if the price dips a lot.
In fact, they are brave too, because what if what they wanted didn't happen? To be contemplative is nice and helps prevent people around you to beg but $150k is a serious gain, so many might also be very happy and talkative about it. There is also no problem about it IMO.
Usually after consolations as this there's usually a break outs thet leads to an impulsive move and sometimes creates an imbalance but recently I've not been seen too many volatility on the chat so even the breakout for me will be such that I'm not going to place so much expectations upon at the moment but then for me a strong bullish move is what I anticipate by the time the breakout takes place.
If the breakout goes bullish , then most definitely $105 is most likely going to be surpassed actually and not just reached, let's just keep fingers crossed and see how it pans out in the nearest days ahead.
And so it went $107,000 recently so do we say it was a big win when we've had an Ath of $112,000?
Of course not the significance ratio we can say the market had made some good wins depends on our buying price since we all have different buying and accumulating strategies. But on a norms we can generally be excited if we can break new Aths.
It's not as easy as one might think when it comes to predicting the market price for Bitcoin.
Bitcoin in June is still showing good support because until earlier (today) the price is still at a level that cannot be verdict is in a state of decline because it is still above $105k even though it is currently heading down or precisely heading to the price of $102k from the price of $108k and is now at the price of $104,691.
We hope that the positive trend can still continue and move away from the price position that continues to head towards $100k. It could be that in the next few hours the chart pattern changes back towards the upside and still maintains a good position as support to reach $120k or even more.
Yeah, it is consolidating, I agree but scalping may lead you to regret as market may bounce at any direction. If bitcoin is trading below 100k then I agree where you can go long but at current prices are good only for long term holders and not for traders. You may go for DCA right now in this sideways markets which will definitely help you prevent regrets of missing out cheaper prices in less than one or two months of gap itself.
Must be a great idea. This way, you will not miss out all occurred dips and even no major dips happen, you still have invested, thanks to your DCA. I go for arranging funds if bitcoin showed 20+% correction otherwise only monthly DCA in my plans.
Not long from the price you mentioned, today the Bitcoin price has returned to the $104K range and even reached $103K, but some people who saw that were still excited who might still really want to buy Bitcoin at that price although for those who had bought Bitcoin above that price should be more patient in holding it again. Because when what we hold is Bitcoin, then we need to be happy and not too frustrated when there is a price drop, especially if the drop is only temporary or before it goes back up to approach the new ATH level.
Nothing like a good old consolidation and price discovery phase for those of us simpletons just on a semi-dca autopilot. Definitely been a fun ride for scalpers for months now (since April, especially if they caught the 78k bottom). But all that's easily wiped out when the real move happens. Bet you scalpers doubling down on leverage now.
Ah I miss those days. It's just a very much reduced dca for me at the moment. Not complaining, actually enjoying. Hopefully the true bottom meets me with pile of dip cash!
If the top is at $150,000 or $170,000 and the average is $130,000, I don't think we are too far from that top, so it's not an ideal point for a long-term entry, but it might be good for a short-term level.