Bitcoin Forum

I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?

I am thinking around 20K.

Any guesses? If so, why (sentiment, support levels, etc)?

Thank you.

Happy 2021 and good luck to you all!

It is unknown. IMHO, we probably won't be seeing $20k again and the support has already been done on $30k. If you want to get an entry, this could be the right time.
It sits on $33k.

Yeah right? 33k just might be the level of support we'll see before we go up again. We may have seen the pull back everyone has been talking about already (down to 30k a few days ago). I missed that one.

Now waiting to see if:

a.) we retest that low (around 30k)

or

b.) we break to new lows  .. ie. 20K or there abouts

or

c.) we simply don't see those lows again and it's up from here??!!

Hmmmm..

We even don't know what the support/resistance level as this point, so it's hard to also see what will be the bottom of the current price corrections. But currently, it did settled around the $33,000-$35,000, so I guess the price won't to $20,000 as you have been waiting.

But I do agree that we might not see this lowest low, as the are still in the bullish phase and everyone whether retail, institutions and big companies are into bitcoin right now.

considering the drastic drop of Bitcoin within the last 7 days, I don't see Bitcoin surpassing $41k to $45k or $50k. The highest market value I see Bitcoin obtaining will be it's initial $41k.  Bitcoin can potentially drop to $25k and rotate between $30k to $35k. In as much that the Bitcoin market is full of unpredicted expectations, I don't really see Bitcoin market value hitting above $45k.

Kermarit,

Thanks for the perspective. As for support, I think if there is any  .. it's at the low end of our current value area- right around 30. Perhaps I should set a limit order at 30k and call it a day! In other words, I'm hoping we re-test at 30 (and it looks very likely that will happen soon).

We shall see.

Does the latest weak down to $28k is not safe enough for you to make your re-entry?

20% or 30% down from the all time high is safe enough for you to re-entry the bitcoin market and enjoy strong bounce with profit in short term, in hours or few days. The coming days are important for the market as the USA. Elected President will have an Inauguration date on 21st January. I don't know what will happen on that day. If there is no serious things, the market might response positively but who knows the future.

I don't think it will go below 30K this time since it was recovered from near fall yesterday. In that case, if ever the price goes down today or tomorrow in the said amount, you should consider investing or else you won't see that low price again and you will force to invest at a high price if you still wante4d to invest lower than $30k.

We'll never know when the bitcoin price starts to rise. We'll find out about it only from the news.

In my opinion, bitcoin won't fall below 30k. I really hope that soon we'll be able to see its rise to record prices ::)

If you are chartist, and make your decisions from charts, the price from $18.3k to $23.8k would be great. You can see it with 3D-chart. I don't wait for the price around $18.3k and in reality I bought bitcoin at $31k days ago. I took profit already and will spend a few weeks to see another dip to $23k to $25k.

After that, if I will be able to entry at that price, I would enjoy some short time tradings and then hold my bitcoin. It would be another beginning for next bull round.

One article in December mentioned price about $23k. Did Bitcoin price just see a 'retail FOMO peak signal'? This indicator says yes (https://cointelegraph.com/news/did-bitcoin-price-just-see-a-retail-fomo-peak-signal-this-indicator-says-yes)

Nobody can answer you with certainty. The fact is that the price is not yet back at $42,000 which means you can still do the buying right now at $33,000. That's still almost $10,000 less. Or wait for that $20,000 which may never come at all.

So you have a couple of options right now: risk waiting for that lower price which is not sure to arrive or buy right now and wait for that $50,000 which will probably arrive but at a certain time we cannot accurately predict.

probably around 20k-25k and it is unlikely that it will fall any lower. because with the increase already hitting 40k, I think if it halves down to 20k it will be normal for bitcoin and then back in the pump.

Bitcoin can go for any lower price without we can predict accurately. After rallies to $40k-$41k, bitcoin down too deep, and it still stay at $32k-$33k, and that can go lower again if more people panic to see the lower price. Maybe the lowest price of bitcoin that can happen in the future will be at $20k-$25k, but we do not know if that will happen or not, but I do not expect to see bitcoin will be at that lowest price. In the other side, that will be a good price for us to buy more bitcoin.

It will be likely but considering that it will bounce back anytime could be a good time, there are more than one possibility in the price of bitcoin, it could just go and rally back to another ATH which will leave behind those who were waiting for a lower price and among other things. You can split your buy to a 50/50 ratio, get the 50% to be bought right now and the other is for when a dip happens.

It was like yesterday, when the long correction from 19800 happened, and then everyone was busy looking for where to buy. I bet some even claimed Bitcoin would get to $1k and they would rush in. It just amazes me today how someone is looking out for a support at $20k.

My point: no one knows nothing. If you can look out for price action; and higher highs and lows from key supports (previous resistance), you can buy, but that doesn't still guarantee, as this is a volatile environment.

However, if everything I just said, sounded like pure jargon to you, then just buy and look at long term prospect, instead of short term gains. That saves you from buying what you can't afford to lose (you can only lose anyway, if you sell at loss, since you are in a spot market). If market goes lower to the region where you expect you really want to get in, feel free to buy more (you can split the funds). At the end, you have nothing to lose in the long term.

The fact is, no one can tell you what happens tomorrow or if bitcoin would pull back to $20000. I for one would love to see that happen, to see the price reaction in that region, probably to serve as very key and tested support in the long run. Wish you all the best in your decision making.

I already said it many times and I will say it again.
If only there is one person or a group of people who can predict the future and answer this with 100% accuracy then that person or they must've been rich by now :).

What we can only do right now is to predict what can happen and our chance that our prediction might happen is 50% or even lower (like toss coin where you can only choose 2 heads or tails).
Go to the chart and put in a weekly time frame and then put a 21 Moving Average there. That is where Bitcoin might drop in the next few weeks or months.

The first months of the year have been usually quite rough to BTC previously so I expect it to either sit around $30-40k or dump even lower for a few weeks/months to come before the real bullish market begins. It realistically cannot just keep pumping continuously.

Personally, I see 15K as the new low it would not be stable at that lower range, preferably around 18 to 25k would be a good entry and accumulation point.
Recall ATH was 46K Last Year 5K
Going from 2017 Peak as the low base seems fair

For fun 18249 US the flat yellow line on coinmarketcap

I think it would be easier if you just diverse your buy and make a separate plan for it. For example, if it reaches $30k you buy $100, if it goes down to $25k you buy again, and so on. If you truly believe that Bitcoin will rise again I guess holding for years won't be a problem for you.

Trying to find the perfect timing is a great thing but luck plays a really great factor on that one, so I guess you just have to play with probability and manage your risk accordingly.

There is bearish sentiment on the current level. I can see a  lower 24k to 23k level. If this is hit price will be retest again and if break out again down to 20k and maybe start again another round of bull wick.

I'm not so sure of course just basing on my personal TA but mostly believe it will not so easy go down to 20k level at this is the institutional price where majority got enter bitcoin.

Personally I think I agree with you but I probably in reality don't know enough. It touched $41k+ for not long, and previously it took 4 months to drop to 25% of its high.

I personally don't agree as to why it couldn't drop below institutional entry price; there is enough BTC outside their holdings to move the price if it is going to be moved? These institutions may not sell in panic, but they may just hold through the dip; which means they will be inactive and therefore un-involved in price movements.

 

Im sure when it's say institutional, their holdings are technically bulk coins of bitcoin. If market is consist of traders and whales they can be considered too as huge holder, and probably some of them have locked their asset through some firms. That's my personal opinion. We can't simply turn down bitcoin to 3k cause we wanted it to dump. It will take longer to do that, and many will be surely buying it again. But that is not gonna happened for a while now.

Sure,

What I'm suggesting is not that it'll drop in 1 week, but if we look at trend of 2018, we saw a huge jump % wise, before a slower retracement that took 4 months to reach 25% of the then ATH.

What is structurally different about the market now, is that "institutional investors" are now bought into BTC, but as a proportion are they collectively able to game the price to stop it dropping if all other retail investors sell?

Is there not an incentive for the same institutional investors who maybe bought @ $30k then sold at $40k and now want the price to drop in order to buy back in?

In essence, there are no facts nor figures about how influential or not the institutional investors are at this stage, and actually if we compare to threads back in Jan 2018, similar things were being said but about a different number. Then it was "I can't see it dropping below $7k - the support is there, we're on our way to $10k" and beyond (which yes did eventually happen), but there was a retracement before this happened.

I don't think that Bitcoin is ready for $50k, and the drop will probably happen prior to this. I believe Bitcoin can easily go back to $15k at some point (and IMO it would be pretty good if that's the lowest point) or even to $10k (which is still very good after years of $6k-$7k stagnation). I've seen predictions that we have till spring, but nobody can know for sure, of course, and even making reasonable predictions in such unreasonable volatile times is very hard. A year ago, I thought it was very unlikely for Bitcoin to reach $40k, and yet I was wrong.

TA wise Bitcoin could go down to $24k-$25k for a correction and still be bullish and maybe go for 50k for a new ATH next, but looking at the history Bitcoin doesn't follow technical analysis that much and anything could happen whether it's 50% correction or 50% more upward movement from here.

As of now $30k has a pretty good amount of support and it might be the lowest price for Bitcoin now and I really wouldn't be surprised if Bitcoin stays at $30k-$36k level for a week or two and then starts another move to higher levels toward 50k without any more correction.

I personally believe that you should always follow the trend and avoid trading against it at all times, even if at that moment 20-30% correction is imminent it would be highly risky as it can just continue to go even higher easily for another 30-40% and you would be at a huge loss and stuck with a position with not so good entry price.

So do you think that this is the sign where it is safe to buy more bitcoin?

Bitcoin can might have a rest this month or this week but maybe it will strive higher again.

If not, then maybe it will really sit in a price of $25k to $30k this year so as much as possible, buy bitcoin if you're not in a trend. Some investors are regretting that they didn't buy bitcoin when it's price is only in a $19k because they think that it will not exceed $20k last December which happened much better than we expected.

You should re enter couple days ago when the price went down to 30,000

Then it may take you forever if 20,000 is your entry price.
If having a chance again and the price fell down to 30k , never have a second thought and Buy , because the next target would be 50,000$

As the trading is a mixture of strategy and psychology. And the market moves as big firms enters or exits. Every asset has it's own fair value. If the asset is overvalued it will fall and if it is undervalued it will rise. Right now probably the btc is at its overvalued zone. Some days ago btc was suffering to break 20k at that point it was undervalued. But it breaches and went to 40k. But currently traders find it overvalued. As we see the chart according to fib level btc is finding support around 33-35k level which is 38% retracement. So probability is it will fly high from this level. Or if not it will again find support at 30k which is 50% retracement. So let's hope for the best and the mainstream industries to join crypto market.

$30k is a good entry point' and if you can't get it, then below $33k is considered good enough. Don't wait for $20k, it will take forever for Bitcoin drop to that level, at least until bitcoin reaches $100k, because 80% drop = $20k
Some popular predictions when Bitcoin at $40k are 30% and 40% drop, which mean $24k-$28k but the last correction bitcoin fell just  27% and bitcoin persist above $30k, we can expect Bitcoin to climb up again from this point.

On my mind price will never gonna down to 20k. We saw correction 30% after 42k. Now only growing so this is good moment to invest right now.

From the cycle surge or downfall of price with the current price of 34k USD it can reach those values around 2-3 months if we were following the statistics hypothetically unless other factors like crash of bitcoin suddenly takes place deviating the supposed to be usual trend.

It has gone up again to $36k. That's expected although for the lower prices, we will never know and won't be accurate how much would be it going soon.
But if this continues again, we'll get into another breakout on $40k+. I prefer to say the choice of C.

It is somewhat unpredictable. Currently, the first support of Bitcoin is 30k, price is bounced from this area, so it can be said that 30k is a very strong support and hopefully this support will not break very easily. For some reason if this support will break, then we may move to the 20k zone. I think since we have bounced back from 30k and RSI is still low so maybe soon the price  will reach 45k or 50k.

I put this challenge for institutional investors to keep buying. Their support makes the market resistance more persistent to grow than seeing it dumps because for now, they are the ones holding it and if they loosen their hand and stop buying, we gonna expect a huge correction.

We are still at a strong $30k plus trend, we're stuck there but I don't expect that it keeps on that place until next quarter either be jumping into $40k or get back to $20k. The price got crazy, but this could be changed if these holders start selling their Bitcoin as it is expected to happen.

We can't really tell it at this point of what will be the cheapest price after the latest fall because the price of Bitcoin is it looks like rising back again therefore your wish bottom line is it looks like impossible too so i suggest that you buy now because there are many speculations that Bitcoin will hold on to $40k and $50k.

Seems that 30k is bottom in the past week. Since it is going up again, we don't know if it will go down again. Hard to speculate these days as bitcoin seems going stronger everyday. Maybe what you can do is just use the scalping strategy. Just to take advantage of the market.

If you wanted to predict then I think BTC can go bottom @ 10K$ and when that happen it could bounce back 60K$. Well, as what other had told btc market is very unpredictable but the only key to success as what I had learn is to just hold in it and sell when you think is the right time to sell. Do not mind what others had say instead focus on your instinct. Just always trust in bitcoin and definitely you can earn depend on your goals.

Im also curious to know but things are so unclear in crypto world...the only thing that i expect is that bitcoin will not drop under 6000$ again and i also believe that the new limite of bitcoin price is not 40k like 20k was for 3 years...i mean we will se bitcoin in 50k in max a year

It seems that the opening post's wish to buy Bitcoin at $ 20,000 failed to achieve, because now Bitcoin is recovering and has risen to a price of
$ 37,000. A good re-entry point should be when Bitcoin drops to a price of $ 31,000. But buying Bitcoin at the current price isn't too bad either.
Because in the near future I believe Bitcoin will create a new all time high, maybe Bitcoin will go to a price of $ 45,000- $ 50,000.

20k is history.  I don't think we will ever see anywhere near 29k again.  My hopes would be $500k by the end of 2029.

(Side note I love how I am a newbie with how old my account is lol)

Guys, Please. hold your bitcoin. I am almost certain that we will not see the price of bitcoin fall again as in the past.

Big investors like MicroStrategy are working fast on creating business models with Bitcoin. With this good plan for Bitcoin, the big investors will make it the most important digital asset.
Bitcoin is possibly showing its scarcity in the market and we will regret selling it.
 https://twitter.com/michael_saylor/status/1348988680598413312?s=19 (https://twitter.com/michael_saylor/status/1348988680598413312?s=19)

Another piece of evidence that relieved my concern about bitcoin's sudden crash last Sunday.

https://twitter.com/HTDcris/status/1348580043723841537?s=19 (https://twitter.com/HTDcris/status/1348580043723841537?s=19)

This tweet will surprise you by Dan Tapiero Co-founder at DTAP Capital.

In my opinion, the price of bitcoin is high right now and if you want to buy bitcoin, of course when the price drops so I recommend you to buy it at a price of $ 30k because I think the price of bitcoin will not drop below $ 30k.

Bitcoin showed signs of recovery today. And the resistance level of $30k seems not yet reached as it dropped off to 25% down to 31k. Well, while most of the long entry liquidated from their trade, I tend to buy some part again and was having a profit and had a good results today.
 
 We can't say when it could be drop down to 20k usd but it was dropped down 25% that fast then it could also be possible that it could reach back to that price again.

Agreed.

The correction is over now. It bottomed at $30k. News of a company getting a US charter for digital currencies today plus Grayscale starting to buy again on Tuesday quickly ended the consolidation period of the correction after the drop to $30k. Bitcoin will never go below $30k now. Next stop passing $40k again and new ATHs, then $50k.

It's been reported that institutions were heavily buying the dip as retailers sold. As expected, bitcoin moving from weak hands retailers to strong hands institutions buying up for their long term stores. This correction was nothing more than a several day dip to make the charts look healthier to fuel the next surge to $50k. An article I just read said that 38% of the retail market during this dip was on the buy side, while 89% of the institutional market was on the buy side.

Some people still seem to not understand that the game has changed. Institutions have almost unlimited money relative to the retail market in bitcoin up until now. They've only just begun buying, and they are buying long term. They will keep throwing money at Bitcoin for years to come in order to build up positions to a few percent of their holdings. This is a tidal wave coming in that is going to flood the market permanently and dramatically. It's not a wave of retail frenzy that will collapse to a fraction of its size after some blow off top, it's a fundamental exponential expansion of the market. Expect billions of dollars a month of new institutional money to come in, month after month after month, for years to come.

Corrections will for the most part be short lived, just events to transfer wealth from panicky retail investors to the already wealthy institutions. Just look at this correction, suddenly many people were like oooh bull market over time to cash out or lose everything, people talking about 2018 haha...it lasted three whole days for crying out loud! And we're already back $8500 higher than the bottom of the correction and only $3500 from the ATH which was set all of like 5 or 6 days ago.

The Bitcoin market may be large now (10th largest asset in the world) compared to other single assets, and that may sound frightening because it's "too high" or whatever nonsense, but that's a bad comparison. The potential for Bitcoin is far larger than any single company stock, it's far larger than even gold. Bitcoin's potential is in the tens of trillions of dollars for market cap. At under a trillion dollars it is still tiny compared to its potential. Institutions who have done their research and are buying now understand this. Buying at $30k or $40k or whatever is an absolute steal for them and they know it, meanwhile scared retail investors drop the most valuable investment they'll ever make out of fear when it goes down for a couple days.

Something that usually is forgotten by some people is that bitcoin doesn't have to drop and go low before it can go up. It just happens that after a major rise we always see a major correction (not to be mistaken with crashes and bear markets). This last one was a major correction and these are like special offers that the bitcoin market gives newcomers to join in at a lower price (with a discount) before it goes back up.

Never again? So sure already? We're only at $38K.

This is right smack in the middle of the OTE short zone (the 0.618-0.786 Fib retracement). In June 2017, a BTC bull trap reversed in this zone before the market completed a second leg down, crashing 40-41% total from top to bottom.

We'll only know the bottom is in in hindsight. In my opinion, not enough time or price action has passed. I'd say there is still a decent chance of sub-$30K.

Well, it does look right now like we won't be seeing sub $30k for a while now. Thought the last fall would take us through, bounced right off 30k, then middled for a while so I thought we might get another bear rush. Doesn't look like it's happening though, with 38k on track and the weekend approaching. Those bulls do love weekends.

Although $20k is history, we do not know how deep bitcoin prices will go down later. We can only hope that the bitcoin price will not go down below $30k. The new ATH will be more than $41k, so I am expecting to see bitcoin price will be more than $50k-$90k this year. Reaching $500k by the end of 2029 will be too long from now on, and we still have 8 years later to see how high bitcoin prices can increase.

How beautiful this morning.
I was surprised, when I saw btc price.
to the moon!

We'll see :)

I feel very confident $30k is gone for good. In bull markets later corrections don't go lower than earlier corrections.

I follow market dynamics over technicals. Market dynamics say massive supply crunch, institutional investors eagerly bought the dip and they have way more money than panic selling retails investors. The first US chartered digital bank today was apparently major news as well long term bullish for Bitcoin so on either side of the market its making people buy, plus Grayscale apparently just started buying again on Tuesday, which I have been saying the past few weeks as soon as Grayscale starts buying again any ongoing correction that happens is effectively over at these price levels.

I don't think we'll see another solid 20%+ correction until at least $50k, at which point it'd have to be 40% to go under $30k. Institutions strongly bought up this correction, and now Grayscale is back buying for the next 5-6 months which makes any sustained correction even that much harder. Unless the price action the past 24 hours was a giant bull trap and this is a double dip correction that we're still in the middle of (I don't think there's any way that is the case) then no I don't see $30k again. Next correction could be something like $50k down to $38k, don't think it'll be anywhere near $30k.

2017 was retail investor driven where people panic. The past few days a bunch of retail held bitcoin got panic sold and just got quickly bought up by long term institutions, constricting the supply even more. The weak hands have even less supply to drop now than when they just panic sold to $30k. Sure if this was still only retail driven I'd say $30k is absolutely still on the table for a double dip. But with institutions buying up maybe half a billion or more $ per week it's just not going to happen.

If we're going by 2017 standards then a dip close to $20k would be on the table, but times are different. With a whole new class of investor with far more money than the old class of investor eager to buy bitcoin at any current price because they're just now getting into the game so these are basement bottom prices for them. And for the most part they are buying long term. Nah, we had one shot to return to $30k, just missed going under, institutions loaded up and price isn't going back down there again. The floor is now $30k.

a price decline or correction will inevitably occur before it reaches the highest price. $ 50k could be reached very easily but there will be some shocks of course. if bitcoin drops to the $ 15k level that's very deep. I think the support point in the $ 20k area is still very strong. But I don't know, there are no truly accurate predictions because the market is out of control. All possibilities can happen in an instant.

It took 1 week to reach from $34k to $41k, but Bitcoin did not manage to gain a foothold on this level. Now we have faced correction and reality, Bitcoin gained only $4k for that week. I think Bitcoin price grown $3-5k weekly, but historically, after January price drops follows. I think we wont reach $50k this year. We will pass $40k mark in nearest future, but then either be in long flat or price will go down. It will try to recover in mid Summer or we will see new growth and ATH only in few years.

BTC Average True Range(ATR) was around 3K to 5K USD since the start of the year, So it's not surprising to see a sudden price pump since the price originally came from a correction. I really hoping that BTC price will become stable around 35k to 40k range so that it can build a solid support on that area. The current strong known support was 29K which is very far from the current price.

Lots of strong supports which do underlies in 29k range or even on 27k range which we can presume that we would really be hardly going down into that point if this current price
will be stabilizing or holding up for some quite time.

But we should really remove that possibilities that could happen because price can crash on least expected times and those supports would be just sweep away in an instant.

We hope that this will be sustainable and would able to held of and we might really be seeing those new peaks that we didnt anticipated to reached out.

It looks like FOMO has got a hold of you. It's fine, I hope more people feel like that because it makes the rally even more powerful.

Of course we will see 29 thousand and below that because every bear market ends with a deep dive towards the long term support. It happened in 2015 and in 2019.

Even if we go to 50 thousand in a few weeks it's going to correct to 20 -25 thousand again one day. The trendline that marks the bottom is still at 16-17 thousand at the moment and we are overbought. Even 20 thousand is still in play and going there would still mean that we're in a bull market.

We are aiming for a new peak now and I’m confident to see a new all time high again since we bounce back stronger. It will take more time before we reach the level of $100k but I’m sure we are heading there. Though corrections are still possible so don’t over confident and just see the market trend correctly.

People won't listen to that advice. When bitcoin has reached $30k, they asked for more and a lower than that price. Now, looking to the recovery of bitcoin.
They're surely regretting that they've never bought when it was the dip. Their expected price for bitcoin to get lower hasn't happened and that's why some of them are forced to buy always at the peak.

You got it correct mate , Bitcoin seems like not going any low to 35,000 now and will take that 45-50,000$ anytime soon.

It's No regret that i Bought in 32k recently because now real profit is on my side after selling at 38k the last hype.

and i'm planning to take even more if the value goes back to 35k before the final bull comes.

It happens already days ago , and that is 30,000$ if you missed that chance then better enter now or be sorry sooner.
Bitcoin is in progressive movement and nothing can expect what comes in the near future but according to the movement , it looks like the growth will continue to happen and no lowering that may come.
But of course this will be depending on your faith and observations.
i maybe wrong but i maybe right also.

Oooh fun it did dip back to $34k at least very briefly a few hours ago, but so far looks like it might be carving out a higher low at $34/35k (compared to the $30k of earlier this week). Wasn't expecting a $6k pull back after the $10k bounce of the correction haha, but still going under $30k looks like a very long shot. Nearly $36k right now. Looks like correction continuing after all, but seems very unlikely to be a further leg down, rather just still coming out of the correction. I'm actually glad for this, a longer correction/consolidation here means market participants will view $30k-$40k as a more solid floor as opposed to just another bear trap in an expanding bubble. This should provide more solid footing for higher gains in the months to come!

Also I just read in the first two days Grayscale was back buying Bitcoin they bought something like $183 million of Bitcoin. That's in two days! Obviously institutional investors still very eager and excited to be buying, and they are buying the dip. This correction/consolidation period is just transferring more supply from weak retail hands to strong long term institutional hands.

Good decision that you have made when you have bought on $32k because even if we're seeing the correction that's happening recently, you're still on the profit side.
Congratulations, bitcoin just made it back to $35k and you should take more then.

Honestly, it looks drippy to me. Full retrace of the last leg up, good selling volume and momentum. Another 4H candle just closed and no sign of bullish reversal yet.

I see two scenarios. The first is a bearish ABC correction to sub-$30K, just like summer 2017. The second is what I call a "scam curve." It'll dig into the low-mid $30Ks but carve out a higher low in a larger sideways accumulation bottom.

Either way the correction continues, no moon yet.


It was always going to be that, regardless of what shape the correction took. But remember, due to lack of liquidity, weak retail hands are capable of moving the market in the short term. That's how we went to $30K a few days ago in the first place.

When I saw that inflow from Grayscale, I was curious if it was built up capital waiting to enter from when placements were closed. I wonder if it'll keep up, given how the market dumped through New York open today.

I would say we are talking weeks for this.


Kaboom!

Before bitcoin actually returns its price to $40k and above, indeed while it is being corrected as it is now, someone who wants to buy bitcoin should be able to determine the purchase price for now. But if you look at the decline of the last few days, it only got to the price of $32k, then bitcoin rose to $36k and dropped again to $34k and went back up to $39k. and now maybe this is the lowest price at $35k, so it's still very hard to get down to $20k. But anything can happen, I can't be sure either, because it's just an observation based on my view.

Who knows. You might well be waiting for the price to go down to 20,000 USD, but when is that going to happen? What if it never happens? People have been thinking the same way for a very long time. When the price rose to $2,000 back then, people probably waited for the price to drop to $200 (not real, but I am making assumptions). But that never happened. So now they regret. The same might happen to you. You well be waiting for the price to drop to $20,000 USD but that might never happen.  What if the new low of bitcoin is $30,000? Like others said, you don't want to wait for the price to go below $30k USD.

When it dumps? When it pumps? Common questions that no one can answer but all of us here are just doing predictions.
The current market resistance still pushing the market to move high. And looking at the market volume, the more it increases the more people are buying it, FOMO still exists.

I can remember how the market dump last 2018 after the bullish season. Many investors are in regrets of being optimistic that it keeps surging high but the current situation looks different, in fact, we are stabilizing for quite a long time at $30k-34k. This will be an indication that we no longer have a huge dump in the future as the demand keeps growing day by day.

There was a concern because yesterday bitcoin had a little crash and it was not really touching that $ 35k but the panic is sure to happen I will still survive this will return to $ 40k and will break through to $ 50k, look pretty good the movement doesn't have to wait long for the move could significantly get me to go faster if playing short term then it's good enough no doubt.
The bulls are now quite enduring and it has left history before so I think it's longer until the end of the year looking forward to over $ 80k.

This is just a natural and healthy correction that we've seen. We're used to seeing the price going up like everyday, but I would say this small dip is good in the long run. As people can buy in this dip and take advantage of it. No need to wait though, as bitcoin's support is above $30,000.

So we bounce back to $39,000 unfortunately, the momentum was short live. So it's weekends so expect some small dumps here and there. Looking for next's week leg up to $40,000 again.

Yeah I'd expect $40k next week. Maybe even pushing to new ATHs next week.

For now the price of the bitcoin is rising and it is really good and I hope it will continue and will turn back again to the 40k dollars value. The price of 20k dollars is possible but we do not know yet when it happen because we are not sure if price will down this year because probably I really like the value will rise. The price of the 45k dollars is nearly possible this month or next month.

It is still sitting at a high price.

Right now it is at $36.3K and I think it would go further after some time. We never know when but all we know is that since we've reached such heights, I think we can reach higher but that still depends on what will happen. I think it will fall for a short period of time and it will just come back after that. No other places to go but to go up.

That is what a correction was and people assumed it was a crash and start of the bear run, they must have seen how wrong they were. Between the finance world there is this understanding that "you do not trade on weekends" because that is how stock market really works, but they do not understand how crypto works, so weekends are a bit rough in the crypto world because of them, but if we can go beyond this weekend without crashing we will definitely go over 40k once more and this time around we are going to end up doing a lot better as well.

It is just my assumption obviously, I do not know what is going to happen, I just think that weekends are a lot more dangerous than the week days because there are less people trading on weekends most of the time, except if it is a very volatile or major weekend where price moves unexpectedly, if that doesn't happen it means we are going to be just fine.

Lower highs and higher lows which is what is happening now, suggest downtrend to me to be honest.

I heard it already before, people think bitcoin will not dump below $10k after it hit $19k because of the strong support, but we are all wrong, bitcoin even hit at $3000 level and with that, I can say that it's hard to predict the market.

If bitcoin hit's $20k, I think it's not a good entry point as it could dump lower as that's what we are suppose to see for a heavy correction.

Bet on your own prediction mate, I believe short term trade would work, if it dump a little, buy them and wait till it rise, I think we will see more of that before the price will eventually correct big time.

Ordinarily yes but as pointed out above, volumes on exchanges are actually relatively low, and last week's outflow of bitcoin from exchanges also suggest people are done selling for the time being and not even ready to take profit so 40k and beyond still very much on the cards.

Even retest of 30 shouldn't be at huge orders and with the books filled with orders there, think we are protected.

That'd be a triangle which can break either way, holding a price range isnt that negative.    Backtrack to 30k is fair play I think  but it can move upto 50k so long as dollar is weak, maybe that is the biggest clue.

https://talkimg.com/images/2023/06/12/Arxgb.png

Certainly long term it seems the dollar has problems but its often price already reflects expectations fully and its deceptive in moving counter to everything known.    The chart over weekend is representing gains as become usual I think, we passed 12hr fast measure and challenging 2 day average.   The low here is about 38% retracement of the selloff at the start of the week so its reversing that sell yesterday.
   The 2 day and weekly average is about in the same place so it could be some significance to watch the highs happening right now, forming these into a low over the weekend would be a point of strength.   I only especially count 5 days during the week as direction for topics like this on medium term.

If you will continue seeking for that 20k level then you'll be waiting for Long time mate , not unless your talking about 29,999$ maybe this one is possible because Bitcoin even Fell down to 30,500$ couple of days ago.

But that doesnt mean it will go down to 20,999 $ because that's too much to expect specially in this Hyping days .

Hope you will be contented in the present price and just invest closing your Eyes and crossing your fingers   ;D

$20k is possible, but the chances for Btc to bounce back during that time might be slim to non, thus you will again wait for a 3-4 year cycle for the next bull season. But ultimately, the best entry point is during the bear season.
At this current rate, It seems that Btc has no plan on coming back down to that level as we still have a lot of investors that's coming in to the crypto market, and a pretty good numbers of good news for Bitcoin to continue surging, probably up to $50k.

Nothing is impossible in the cryptocurrency market since we are dealing with a volatile system and no one expected the market to be this ridiculous increase in price at the early stage of this year but it cant be used to judge how the whole market of this year will be.

With that been said, I read that the market will experience correction during the last of this year Q1 and if it a strong we may see the $20K price again but no one can know the right bottom

Of course anything can happen (back swan event) but the chance of it ever going below $30k again is extremely unlikely IMO.

We had our big correction. It may bounce around in the $35k-$40k range before going up to new highs, but eventually it will go up... way up.

I hope you didn't miss your chance to re-enter below $35k.

$20K is already good as a new entry-level, but the market is very volatile on what's happening around the world if there's no bad news as bad as the pandemic then $20k is the lowest that it can go down, and a good entry-level, it's still hard to predict, the market is still doing good we have not yet the all-time high before the correction, the momentum is still there.

Yup agree with this. $30k extremely unlikely after strongly bouncing off this week. I could see ranging between 35k and 40k for the next few days or next week, carving out support at this level, before rising up to prepare to push to $42k and beyond.

Buying opportunity is right now. In two weeks people will be wishing they bought now.

Lower highs, lower lows = a downtrend.

Higher highs, higher lows = an uptrend.

Lower highs, higher lows = sideways consolidation.

When a bullish trend is followed by sideways consolidation, it usually implies the bullish trend will continue after breakout. Symmetrical triangles (which might be what this $30-42K range is morphing into) are one example:


https://www.investopedia.com/articles/technical/03/091003.asp

I could say that bitcoin is still in a bullish phase  and the lowest  point we got this  week was  $33k. Maybe it  will fly again to a  higher price.
So for this bullish phase it looks like the low range of $20k will not happen. Maybe it will happen during the bearish phase. But at the moment
we cannot say its bearish phase. seems to reach the lowest price at $20k still for a long time. But will it come true, let’s wait, mate!

The longer it remains at sub-40,000 level, that much greater will be the chances of another correction. At least some of the investors who purchased their coins at around $10,000 per coin will be tempted to book their profits. And this profit booking can trigger the next correction, and there is a good chance that the prices can fall to $25,000-$30,000 in the short term (before the next rally takes it to above $50K).

Indeed. As there are now early holders who managed to hold from that certain point,
they are now enjoying the luxuries to take 3 to 4 flips of their first investment.

With the amount of people who take this move, the chance that we will see downfall. Tough to call the end zone but anticipating
further deep is very possible.

Though  chances of breaking this target from OP is still very possible this year, as there are more and more
new investors that keeps entering this venue of investment, new institutional investors who are capable of taking
long-term and holding to what they've seen the potential big growth to take place.

I would agree that "never again under 30k" is a big talk, think about grayscale ending up selling ALL their coins, we are talking about over half a million bitcoins, not half a million dollars by the way, half a million of BITCOIN, that would make bitcoin go under 1 thousand dollars probably, there isn't enough money in the market to cover that, even though it wouldn't be anything fundamental changed in bitcoin so I would end up buying, it would still crash until we cover it.

I am not saying that will happen, but never remove the possibility of rich people doing rich things, that is why I would never say "it will never go under 30k dollars again". Best I can do right now is "there is a high chance it will never go under 10k again" because that seems quite possible, we had 3k as number we never went under, and now it could be 10k by now due to the increase, but that is highest I can go to.

Exactly else we wouldn't have saw such a big drop which happened last week it went down to 30k which was a really big deal then again it made a strong come back and now it is rallying at 36+

I know BTC is a unpredictable king in crypto but I never thought it will make a massive comeback after that drop however it's getting ready for a big hit which could be nearly 50k in my opinion and that's what I am expecting too.