Bitcoin Forum

Bitcoin. Now it's all about the buyers. A look towards $ 15,500 and $ 17,500

So, yesterday's pre-Christmas sale of cryptocurrencies made a strong impression on cryptocurrencies' fans  and their opponents. What now?
On the chart, we see a breakdown of a growing trend at record volumes.
True, the bulls still have a chance, if there is a quick return to the level of $ 19,000 by today or tomorrow and the closing of the week without the decline of the rate. However, it does not seem that any of them want to take this chance ...
So it looks like it is at best a transition to the outset.
The key level-indicator of whether it is the outset or the fall is $ 15,500. (Mid-fall and resistance level + slow moving average on the daily chart)
The buyers must overcome this level to cool the sellers. Overcoming the $17500 mark will completely cancel the bearish game.
However, If the bulls behave the way they do now, then the next bearish impulse has a settlement target of exactly $ 8000

Recommendation: close longs at take-offs to $ 15,500. Wait for the best prices for buying.

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I doubt the recovery back to $19000 can be that quick! within only 24-48 hours!

and it usually is not that quick either. it takes some time and at least a couple of days of downtime when whales accumulate more, the FUD fades away and panic stops. all this takes time.
for example if you check last time price dropped this much, you can see it took about 3 days to come back up to normal level and the it was followed by about a 7 day accumulation where price didn't move much and then it shoot up to the new ATH.

I am going to have to agree with you on this. Well...the $17,000 part. If it goes back to that price then there will be a bunch of people trying to push the coin up again.

Any price prediction for end of 2018?

BTC $19000 is it possible on 20 - 24 hours it is now $14500, i think not! ??? ??? ???

The whales and institutions are idiots. They would have collected more coins if they had organised the correction at Christmas. Nearly everyone invested in Btc would be able to watch the market, more people to panic sell the bottom.

I think $17000 is too hard today

But their primary motivation is to create their own coins. Bitcoin is peanuts in comparison to their potential gains from this.

it depends on your point of view actually!
more people to watch means more people to buy bitcoin when they see a big drop too. and that will also create more of a resistance, some kind of prevention for going lower.
the less people means thinner orderbook, less orders to be placed to create that prevention and an easier way to manipulate the price.

I think now is the perfect time for buyers because  the dip was too much and i could see that it cant recover by the end of this year to reach $20k..but still those are just my predictions anything could happen, it would rise up again or would continue to fall anytime.If investors would take advantage of the price drops most probably it has a chance that it would pump again.Thought everyone is monitoring on the market cap that cause every investors to panic in this dip.

20k this year is unlikely but still possible :)

Yes but this time bitcoin need more time to recover, the market is bit messy, due to the a lot of investors choosing different coin to invest or to use, so its going to need more time for bitcoin to gain its momentum, we need to see how the market react after Christmas, hopefully its going to be bullish trend

Speaking at $ 8000, today I was reading the news as I do every day, and I see this news: Michael Novogratz: “Bitcoin May Dip to $8K” — Puts Crypto-Hedge Fund on Hiatus (https://news.bitcoin.com/michael-novogratz-bitcoin-may-dip-to-8k-puts-crypto-hedge-fund-on-hiatus/)

What caught my attention in this news was the following:


Okay, he made a very optimistic prediction and now that he had this price drop he says he's on hiatus because the price could fall to  $8000? So where's the optimism?


So it seems that he wants the price to fall so that he can buy cheaper, the worst of it all is that he and so many other analysts have some reputation and some people can listen to the analyzes that these people do and this is not a good thing... if the analyst wants to manipulate the market by spreading fear and uncertainty.

Yeah I think the same too, it's going to be hard for bitcoin to reach 20 000$ again but it's nearly at 15 000$ right now so nothing is really impossible. I am sure the people at Wall Street are really hungry for bitcoin and the blockchain technology. Maybe they will help push bitcoin to 20 000$ again. It'll be also good if bitcoin just goes sideways for a few days so altcoin can go up a little bit more

I totally agree that people need to wait for the best opportunity to buy. When buying, I avoid going all in either.

When everyone is talking about the next possible value for bitcoin they are all going for $20,000 mark but in my opinion it is not possible at the end of the year it sure will be the next year of January, it is a holiday season and I think it will be crucial to force the price to have a bullish movement, Its gonna be a slow pace going back up, And I am seeing a resistance pumping up for now so let's just chill and wait till next year.

We are still in a bearish market so I prefer to err on the side of caution. Its still possible to hit 8K so I will wait a bit more before buying.

A good insight here

https://www.tradingview.com/chart/BTCUSD/cKx4v4Gl-BTCUSD-50-Correction-Good-Time-To-Think-Long/

Good point. A correction like this never comes alone.

Dip
Panic
Relief
Super Dip
BLOOD
Recovery

It's always best to not get sucked in by hypers and false fortune tellers lol.

Current sentiment is "MY PRECIOUS!!! MY PRECIOUS!!!"  :P

Best price to buy was when bitcoin touch 12,000$ in some exchange site yesterday.

today price recover and will be to 18,000$ before Christmas

Well maybe its perfect time to buy bitcoins. An event is just going to happen and its our time to buy more. I believe after event the price will increase and will break all past records. Now the demand is low since people are willing to sell their bitcoins. I my self bought some coins last night because i believe my prediction is right. I am seeing all time high in early next year 2018.

pre-Christmas make new real that buyer are really effect in price for ever short time.

bitcoin not have huge buying and price dropped fast

I saw that it increased by more than $1000 during the last 24 hours, but now it has decreased a little bit, anyway, it is still on $14,100, so i think that this is a "far" price compared to yesterday. I think that it will still keep going up for the next few hours.

Messy is just the right word for it. The truth is that we had a joyous bullish trend but we all knew right from the onset, that was a bubble that could pop anytime. That does not make bitcoin less of what it really is, but the huge value increase within days was unnecessary and greed became the motto of the day for some and if this did not happen, then it could have been worst later on. I would still chill anyway as we are still in the stage of uncertainty and I would rather as a buyer wait for a better signal than what we have presently.

No one can really know what the price would be like by the end of 2018 with the way things are presently.
It is still a very long time from now and a lot will definitely happen next year that could skyrocket the value or probably still halt it a little bit, but however it is, just like how we ended up having this year, it is best to just wait for it.

At the end, we ended up having some little bit within the range of $15k to $18k before the end of this year, which was expected anyway.

We are seeing some good price increase from the $13k area and we are now at $15k price range right away. Those who bought at $13k made a very wise decision and should have good profit right now. People are saying that the increase that we are seeing today is due to the fork that will be happening in 28. They are rushing to get their BTC back to have some free money on that date. This is also expected as we are thinking of having a legup before this year ends. Will that reach $19k again? That is a question that we really don't know the answer.  ;D

Same with me I think.. Because no matter what I want it to bull rush and recover but the looks of it will surely take time to even get to 17000$ again.. Isn’t it hard to wait for a while when eventually it will be at that price again or maybe higher as the holidays and year end is nearing to pass.. If I were those who panic and sold last few days,, I will regret for what I have done..

From what i see, bitcoin will be having a hard time of gaining back its value of 20k usd, there is still network congestion, we are also having problems with the fees, i think once the fees has been corrected and lowered, people will be starting to use bitcoin as a currency again. There is also the issue of more users, few miners, if the problems could be addressed, more and more people will get back to bitcoin, but since the altcoin rush, i think people are beginning to see that there are other alternatives than bitcoin, still we need bitcoin in order to do other transactions. Hopefully the cogestion and fees will be addressed in order for more buyers to gain cofidence with bitcoin .

That is definitely not possible and it would be like asking for too much. We should expect the price to go sideways for some days for now before we see a break out and even with the break out it is good to be very careful and observant so you do not fall into any trap of a fake one. For now, let us just have the best moment we have had so far and see how the year ends and how we move into next year.

Yes, it is all about the buyers but I would expect this to still go sideways like this for days and definitely not expect something that huge for now. It is possible for us to test the resistance at around $15,500 and $17,500, but that would be some little bit ups and downs as it may be hard to break initially, but anything breaking that should probably go test the previous tops. Like you said, it is better to wait for a clear sign to buy in than rushing in now as anything can still happen.

I believe that $12.5K is the ABSOLUTE floor. Good luck!

I doubt that too, I expect us to have some sideways movement within the trading range canal for some days before we start seeing the market trying to break out from this canal.

I would really prefer to wait for a very clear signal to get back in rather than trying to gamble positions and I would not want to fall for some fake breakouts as well, but I guess we just have to keep seeing how the chart fairs for the few days we have before the end of the year.

I've been seeing a bit of a pattern, one day there are somewhat significant losses, the other somewhat significant gains. However each time we gain, we get higher up than we were before, and with each loss the floor increases a bit. I think this sideways movement will be a clear bull flag in the next coming weeks and we might see the price bounce up again soon.

Well, practically we still have New Years evening to look forward our spendings to because it only comes once a year and besides it's a family holiday where everyone gathers together to celebrate the new year with your loved ones. So I doubt many people would focus on buying Bitcoin instead they will focus on spending their money for the foods and etc. in preparation for the upcoming year. So I expect bitcoin price to rise in the year 2018.

The funny thing about all these predictions and speculations is that ,if the market goes higher,there will be a set of positive things being quoted and if the market goes down,then also there is a set of things being said about why the market goes down,this is the thing with any market,no one could predict exactly what will happen at a given time,just a speculation about what will happen when the market turns to both directions. ;D

Yep, it didn't happen, since bitcoin can't recover so fast. I think transaction fees are playing a major role nowadays. Even when the price is down (and now it's less than $15k, so we can say this is the case), the fees are lower, but still high enough (I have $12 fee now), so that discourages people from buying bitcoin. As a result, it doesn't recover fully, since people are more willing to sell when transactions are down rather than buy, for they know that they won't be able to sell on higher prices.

I think so, this past few days, bitcoins price is totally gets low, after it reaches the $20K. This downtime , i can say that it is indeed all about the buyers, because it is a great time to buy in a lower price and just hold while waiting to get high and whales are preparing to sell.

The buyers are the only ones who can make the price recover right now, unfortunately in the market there are more sellers than buyers, and this is what is causing the market collapse right now.

I want to appreciate with you.You are right.It is all about the buyers of bitcoin. I think it is the best time to buy bitcoin comparatively at a cheaper rate.Though we cannot predict the actual price of bitcoin, we can guess that the price will hit at least 25k.Though it is optimistic, yet we can hope so.There is obviously a logic behind this reason.Because there are still a lot of people who even don't know about bitcoin and some are becoming known . So,thry are investing or buying bitcoins.So,there is a chance of rising the price of bitcoin.

So,I think,it is the high time to buy bitcoin.You can buy at a cheaper rate.Can gain more profit.The price is now $14274.91.So,I think if anyone wants to buy bitcoin,he will get hardly the time like this week..

that's right the price will collapse when the a lot of bitcoin holders sell and it will rise when more bitcoin holders buy, unfortunately the price now is always fluctuated which is when it goes up it will fall again.  Maybe there are some reason why the price always volatile on this moment.