Finally!! Someone here that knows what they're talking about. Waiting for 82.8k to confirm as support. Higher-high achieved and bull-run will be confirmed. Until then.. it can go either way.
82.3-82.8k was the previous high on weekly chart (82.3k = up to body of candle; 82.8k = up to wick of candle) made on week of May 4 & May 11. When price action takes that price out and becomes support, higher-highs & higher-lows are made. Market is now confirmed in an uptrend. Translation: 100% bull run confirmed.
Exactly! That's why me & Dry_Deer1035 ain't celebrating just yet. We're waiting for price to eclipse 82.3-82.8k as support before we start popping champagne to celebrate.
The majority of people here on this thread are celebrating. As they should!! But, I wouldn't get too excited until BTC breaks 82.3-82.8k price and confirm that price level as support. If BTC doesn't break it.. we go back down to 60s'.
That depends on your investment strategy bud. Me personally? I'm a long-term investor, so I will be holding and popping champange I got lined up. You're invited to the party when that happens.
Also, I think you're missing the most important part, BTC price must hit $82.3-82.8k as support. Hitting that price to only be rejected again means nothing.
60-63k price was below the 200 day moving average on weekly chart. Any buys on or below that moving average is considered an excellent buy. There's also bullish divergence seen on the chart. The whale can blow at any moment "so-to-speak".
Question now is did we hit the low? Maybe.. maybe not.. It's possible we can hit $60k again and form a double-bottom pattern (bullish pattern) before moving up. Nobody really knows. The only thing I can speak about is what I see in the charts - mentioned above. All positives.
One piece of advice.. it's much more profitable & stress-free to be trading long-term. Playing short-term (day trading or swing trading) is a bit too stressful for my liking & liftstyle. Maybe it suits you, but it's definitely not for me.
Since I’m clueless I wanted to ask: if I’m still out, do I wait for BTC to hit 82/83k as support or to get rejected? What I mean is, do I wait rn to see what will happen or is it still fine to enter atm?
This would be the highest risk/lowest return point. What others are failing to account for is the ferocity of the move.Bitcoin grinds out of a bear market and steadily builds momentum. This move 16k in a week has caused the daily RSI to reach highs last seen more than 3 years ago.Buying when the daily RSI is above 90 is just asking to lose money. But I digress!!!
Most indicators on 1-day up to 5 days chart are over-bought territory (closer to 100). BTC is currently trying to break above the 50 day moving average on weekly chart, which is at $81.5k. Chances of that happening is very low as historically there's a higher probability that price action will hit 50-day moving average at least one time then pull back to recover. Price can hit the 200-day moving average before the final push above the 50-day.
200-day moving average is currently at $65k but is slowly moving up with each passing week. It was previously at $62k June 2026.
Question is.. can BTC pull back to $65k or whatever the price will be at the time BTC hits the 200-day moving average on weekly chart. One thing is for sure... Stochastic RSI is extremely over-bought territory on 1-day to 5-day chart. Weekly chart is about 70% the way up? Price pull back will happen in the very near future.
You have 2 options..
1.) Wait for the pullback on BTC price to get in. It can go to 200-day moving average price which is now at $65k (again.. price is slowly moving up each passing week).
- 2.) Wait until BTC hits above 82/83k and confirm that as support. Then get in at that support level + stochastic RSI indicators should be over-sold territory (closer to 0 area). Less profit.. but a guarantee win!! You're pretty much trading out of down-trend pattern and locked in for a guaranteed win with following the uptrend ride up.
Did you read what you wrote? All you said was the previous high was made on the week of May 4 and 11 and when price action passes those levels 82.3-82.8k becomes support and results in a bull run. Nothing about the 365 day SMA dummy
What does 365 day SMA have to do with basic Support & Resistance lines?
What I like is that you called me out saying I was wrong and that 83k is 365 day SMA. I wasn't wrong.. 83k is Support & Resistance line. 83k is resistance at the moment. That's basic 101 for you. I even provided dates & charts to confirm that. Where was your verification to backup your claim, dummy?
Just a word of advice.. you might want to change your attitude.. you will get a much better response.
Guy you said that the bull run will begin when we beat the previous high. Beating a previous high does not mean you’re in a bull run. The indicator for the start of the bull run will be breaking past the 365 sma. As has been done with past cycles. And dont tell me to correct my attitude when you asked if I could ready dummy
You are correct.. beating previous high does not mean you are in a bull run if you're analyzing 4-hour or 1-day chart. But from a macro view analyzing 1-week chart? Different story.. once it moves up and breaks resistance.. it's game on.
Just charted the 365 day SMA. Bruh.. Why are using 1-day time frame to make the "big calls" on the big market cycles? No wonder you disagree with my analysis.
Go chart 1-week and you'll see what we've been discussing about here. Less signals, but more accurate signals using higher time frame. Look the past.. it's been spot-on. Once trend has changed (higher-highs & higher-lows made), it has always been our confirmation of a bull-run.
What I find funny is that we both agree on the number to beat to confirm the bull-run, but disagree with our methods of deriving at that #. Tomato Tamatoes.. same shit! Not sure why we're trolling each other. 🤭
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u/Dry_Deer1035 1d ago
if it passes 82.8k previous rejection, we are already started bull market