Bitcoin Forum

With fear beginning to creep into the market after closing the day below $57K, the lowest price in over a month, do you think the bottom is now in or that price will go lower?

While most speculators don't appear to think the bull market is over, many still think price may still go lower. But how low do you think Bitcoin will go before reversing?

Using the coinmarketcap price, the price of bitcoin falled to $56000, it has increased a little and now at $58000. There could be a time the price will fall below $50000 but this is not the time. Many people are waiting for the price of bitcoin to fall more and more, but we should know that another ATH will still come, it can take long but it will still come.

I have repeated this often and often, there is nothing bad to invest more as the price is falling, but if the price is increasing, just leave your bitcoin alone and never sell. While not also selling if the price is also falling, do not sell the bitcoin, just earn more money and have investment plane like this

Re: How do you manage Bitcoin price now (https://bitcointalk.org/index.php?topic=5372016.msg58472618#msg58472618)

It’s difficult to tell, if we mirror 2017 & the dump we had in November there then the bottom could already be in. I’m far from confident in that though, it would be a very mild bull market with no parabolic stage & we could be set to enter a long bear. To summarise, nobody knows.

I don't know what the lowest price point is but I will buy when I hit $53k-55k that's my lowest buy option, even if it has reversed then I'm sure the speculators think that the bulls are still not over but in reality it's not, so I'll assume bitcoin will fall even worse.
Basically, I will still trust speculators more considering the positive things and bitcoin can turn in the right direction.

I will wait until this month to see if the buying situation is correct or not.

The price dropping in two days has put panic in the market but that won't stop the whale to gather more which will bring back the rally. The price dropped to $55k and went up again for daily correction and that is significant that strong buy is still operating. So I think the price can still go bull if the month ends on bull direction.

It is a bit difficult to predict the lowest price since Bitcoin can drop or increase suddenly in a day. However, Bitcoin was decreasing quite big in the last few days and it looks like increasing again gradually. So, I think the lowest price has already been reached and it is time to be back at the bullish trend. If there will be no bad issues regarding Bitcoin and crypto, I am sure we won't see Bitcoin price under $55k. But, it is only my personal prediction without deep analysis. So, there is no guarantee whether it is true or false.

Not much further imho.

Prices are stabilising at this level of $57k, which means that support is likely forming.

I don't see BTC prices going down below $50k as some people seem to be the case. The recent mainstream media coverage have been absolutely huge in catalyzing this support, as there are plenty of dip buyers.

$57k might be 'it' short-term, although I refuse to believe that that is the case since a lot may still happen (MtGox funds being returned to the victims being one of them). The possibility of the bull run being over isn't being ruled out, but from the looks of things, it appears that the market can still weather out the storm and hold the selling pressure, as the support is still going strong @ $55k.

As of this moment, I wouldn't really call anything with certainty.

I can't actually tell how much since I don't think it's a start of a bear market but this looks like a bull trap. All of those weak-hands selling and dumping already will regret if Bitcoin come back to $100k next month or so. I think the correction price might stop at $50k again if the correction and dumping continue without a new high.

Although the price might be stabilizing at $55k or $57 so I can't really tell what is but as long as we see a new high after a drop then that's fine. I am still bullish if that's the bottom price for this correction anyway it's just need to allow new investors to be able to buy before going to $100k.

It doesn't seem like it'd honestly go below $50k really, though going back to $50k seems possible. The prices are stabilizing as of the moment in the current range and we've been seeing a pretty steady movement even with the dip a few days ago (buy opportunity ig). Still even with the low chances, going back to $50k wouldn't be that odd though, the stabilizing of the market right now has only lasted for a  month or two so far, after all, dropping back to $50k isn't all that odd.

Most likely that was the bottom. If BTC fails to make a new ATH from here then I can see it dipping lower. Many people are holding positions this month because they are expecting that S2F model to come true where Bitcoin will hit $98K and something like $150K next month.

Also November/dec in the past were always bullish months so many are trading this seasonality. Kind of like Nov 2018 but instead of going up it went down and everybody was caught off guard.

Theoretically any market will correct up to its support level and this time bitcoin found its stronger support around $55k levels and in some exchanges it seemed $55.5k acted like good support and from that we are witnessing upward movement toward $58k levels as of now. It needs to close above higher previous high which means sustaining above $58.5k levels will close doors for bears at least for remaining days of this November.

You need to check with news and events for concluding about continuation of bull run. There are lots of positive news are on queue. FOMO yet to arrives. So, we may have bull market in 2022 as well.

Yeah the expectation that we should be at least in the $89k at the end of the month might not be realised though the way the price is moving.


That's the only thing that we are holding for now, if history repeats itself, Nov/Dec should be very bullish for us.

But as far as lowest for this dip, I think we've reached it already at $55k.

There is a fundamental difference between what is happening now and the past, as traders believe that the price of Bitcoin is capable of rising, and therefore there will be no panic that will lead to corrections of 30%, and if this is true, then most likely we will not see levels below 58k for a long time, and therefore prices will be around this number.
Based on this hypothesis, I think that now is a good opportunity to build buy and sell points within 30 days.

There’s a somewhat strong support around 40k.  Open a chart and look...  If that gives away, down it goes to 30k where it will prolly hold.  If not, I guess that’s it.  See you guys in the next bull market.

The end of the month of November is fast approaching. So, the monthly candle close is very important this time. The worst case for me is we will close below $50,000. And there's a possibility again we will be visiting $30,000 - $40,000 until next year. But I am positive this time it won't happen.
We stay above $50,000 until next year is healthy correction for me, even we will not create another new all-time high until end of this year, it's all good.

There is a big difference between someone who is pessimistic and realistic, and I see a lot of pessimists these days just looking for the next bad news to make sure the bull market is over.

I don't have a magic sphere or I'm a TA expert, but I think the current price is the result of market manipulation due to futures expiration, repeated news from China about how miners should stop mining (I just don't know which miners, those who relocated their mining farms a long time ago?), and Mt.Gox rumors about how they will finally pay compensation to their clients. Ah yes, I forgot the famous bill recently signed by the US president (I doubt he even knows what it's about), that any transaction over $10k (in crypto) will have to be subject to verification for tax collection purposes.

Although one thing is stupider than another, the crypto market is so sensitive that it reacts to all kinds of nonsense, so it is enough for one big Chinese or American to sneeze and the market immediately panics ::)

I don't want to be dark with the previous month where bitcoin correction reached $30k and then could rise again, but this time I'm also quite sure of a healthy correction and will stay above $50k until the end or at least it can reverse direction to become market green is back.
But I see the correction will continue to occur but it will not be too significant but gradually to start the downward correction, but indeed the candle at the end of this month will be quite unfavorable to see.

I am not seeing any big negative news are coming out but some government are heading up about their neutral stand against cryptocurrencies still we are having bear dominance in bitcoin markets. If this current correction is just because of profit booking then I believe we do not need to worry about closing below $50k levels. I am well aware of the importance of closing price on monthly candle hence hopefully we will get back above $60k price levels before end of this month.

Today market tried and failed to break resistance around $59k levels which might lead to another round of correction up to $57k before we see bulls get back to dominate.

I'm not really frustrated when such corrections occur, however, I wouldn't be surprised if it even dropped to $50.000. After seeing such a rapid increase, with the new all-time high surpassing $68.000 not long ago, it could possibly be subjected to further corrections in the near future. The drop to $58.000 isn't that significant, since it's already recovering towards $60.000.

With the recent "pump", it looks like BTC is recovering again but I'm still waiting for a big dip to happen which will come according to my belief because Bitcoin came high and broke its ATH so quick after going to $30k, that it has yet to take the liquidity available at many lower levels including $40k. Though, till BTC remains above $57k, I'm bullish on it and if it crosses back $62k, it'll become parabolic once again.

I don't have a big holding of cryptocurrency. This makes me stay free even when there is large scale price crash. The market is at the peak, and we don't know in what direction the price movement will take place. With this everyone's prediction is with some comparison and market study. With time there is good rise in usage as well as adoption of cryptocurrency, however the growth pattern follows a cycle. This way I believe there is more chance of price dropping low to $30k.

Yeah, it is recovering as right now it is trading above $59k level and I guess this weekend would be a great time for recover as usually bitcoin market trades positive on weekend. So, today and tomorrow market may remain positive by recovering which may get bitcoin prices into $63k to $66k levels somehow.

I am confident about finishing of this month November in positive candle because that much be more important to have continuation of bull run in December month as well.

The bottom was likely in already. As we see the market, trying to break out again $60k and if this happens, then for sure that it's going to stay there again for so long before either going to another ATH or have a correction again.

Maybe lower than $50k and that's the lowest that it can go if the bottom isn't in yet. But if it's like $54k-$55k then that's already fine that we get to see it as the market starts to go on the green signal.

Well, I don't think so because weekends are mostly the only days when the whole crypto declines in percentage, and I'm quite surprised to see since the last few weekends that there are not many drops occurring against the spikes that are taking place every now and then. I hope that your perceptions regarding BTC's price rise come out to be true today as Sunday has started here already (in my country) but I'm waiting for 23:59 pm UTC to see what happens at that time.

^ The price could be not lower to $50k plus in my opinion. This short correction was affected by the panic seller and this will continue to drop not until they will realize that they already lose in selling in the early stage of the correction.
However, it is a little bit hard to guess your question because if there is someone who knows how to predict it could be they are the most riches people.
This is not bad news for me because I can able to accumulate while the market was been corrected the price.

Even i am not expecting that the bull market is over yet, it is a minor correction, you need to expect the huge investment from institutional investors and they will be booking their profit whenever the price touches all time high valuation.

When it comes to the bottom prediction, it is hard to predict how low the price would go during the bear market, but i am expecting that the market could go below $30k especially if the institutional investors starts dumping the coins.

currently it is very difficult to predict the price, in the past it was very easy to predict the price, it would be enough for a person to look at the 4H chart and whenever there was a large price increase we already knew that it would fall a lot days or weeks later and before to go up a lot again, the price would be stagnant and only after that the price would go up a lot again, but currently the scenario has changed, the price increases a lot, falls a little and increases again a lot

Well, I'm no expertise in seeing the market what will happen today and in the days coming and I think, nobody does. However, with the current number of investors and traders, I can never say it going back below $40k. It was just to see this decline because of the incoming Christmas celebrations, it has to know that and probably these holders are selling off their coins to spend during the holidays and seemingly it happens in the past years.
But of course, this is how the volatility is meant for, a lot of factors that could really affect the market flow.

Op the correction that needs to happen:

  BTC will correct in the next sixty days to around 105-111k.

Yeah thats right the correction is an uptick to the value it should be 100k plus.

😊

As we speak, btc is climbing up again. So we will be hitting the 60k level again in no time. The crypto activity today is very different from the last decade, and it is still growing stronger everyday. This is why, the increase of price is always there. It may go down once in a while as part of the normal market performance, but looking at the big picture of the btc chart, we are continuously going up. So in terms of correction, there will always be correction as we go up.

I have already written my opinion in my previous post (https://bitcointalk.org/index.php?topic=5372214.msg58486643#msg58486643), and I am sorry that the people who have been on the forum for years have not yet learned to look at things from a perspective other than the one presented to them by the media, who mostly write nonsense.

People like you who are waiting for a new dip of 50% should know that if that happens, that dip can very easily be 70% or more, which means that we have a long crypto winter ahead of us. Although Bitcoin is unpredictable, I am of the opinion that things have changed compared to 2017 and that we should still be a little more optimistic. I think there is a greater chance at this point that a 50% price increase will happen than the other way around, but that’s just my opinion.

While I understand and respect your point of view, the whole market is unpredictable, thus, we are possibly all talking nonsense. On the other hand, I wouldn't be surprised if Bitcoin crashed, similarly to 2017. However, I don't think there's any way to actually foresee the future. I'm pretty positive that the outcome will live up to our expectations in the distant future.

One month ago,I wrote a topic reply about "NO DROP November" to follow the bullish October,when it comes to the Bitcoin price.I guess I was wrong.The price is going to drop in November,which isn't bad,if you think about it.The previous October bull run lost momentum,so there will be price correction and a small bearish market during November and December,before a new bull run and FOMO phase begins to grow.
This is a good opportunity for the traders to buy more BTC.There's no FUD causing the current price drop,which means that the bullish expectations are still here,but we need something to trigger them.
We need some institutional investor or crypto whale to step in and start buying BTC.

So hard to determine if we are going back to that price but since the price became more stable right now then its good to short it since I think many people are been afraid for huge bear market scenario and this could affect its possible pump. But hopefully we cannot see that and still continue to be a bull since its really hard to come up with loses if the market flip down.

There's 1 month left before the year end so maybe we can determine on what will happen to the market on December.

We're almost near to the end days of November. To predict the market is a tedious task, everyone does it relating with the previous bull trend. Moreover the market changes used to happen with the good and bad associated with adoption and government making regulatory laws. To reach an ATH it needs to overcome more price barriers. Within the year end making price seems to turn bearish than bullish.

Wait..  what?  A pessimist?  Lol.  I said there’s strong support at 40k and if that breaks there’s another support around 30k that could prolly hold.  And if that 30k support breaks down, I’m just a pessimist?  So nobody’s allowed to say that it’s prolly a bear market around these parts anymore?

Edit:  And I didn’t even say BTC would fall.

It wasn't just you, we all got a bit confused about it and I would say that this latest drop wasn't something anyone expected. I get that we all knew that when the price goes up, eventually it goes down and that is what we had, so it is not really "shocking" but the reality is that we didn't expected it to happen now, maybe in the future that would make sense but it was going so great so everyone expected it to happen a lot more later.

Things are looking better though, it is increasing better and better, reaching good levels. So let's just wait for it to make a big move, it is not a big move for now but it will definitely make a "big" move, hopefully higher but I can't guarantee anything.

For me i think the price of Bitcoin will go back to previous top of $53K, but still no one can tell us what will happen in the future except those big players what we call whales, that's why i do not much rely on some news because there is a chance that someone is manipulating it

I'm afraid the price has not yet reached its bottom. $57,000 is probably not the bottom. There's still room down there. It could go as far as $55,000. I don't see it going any lower than $55,000 though.

But this is not taking away the bullish cycle that we are still in right now. The price falling to $55,000 is just part of the short-term rise and fall. The medium to long term is still very much bullish. There will definitely be another ATH coming if not in November then definitely in December. But we are admittedly going far from the $100,000 target.

Most of the time it's the previous resistance that will turn to support as I have noticed as well. Maybe it will just be in the $53K, people on telegram are saying so. The Macro influencers are also predicting the bull run is not yet over which of course they make it too overly.

And yet we thought this money will be different from October. This just means that what we really expect the most just doesn't happen all the time. $100K is just out of reach.

we have seen a lowest price below 30k recently so what could we expect more?

i think we will see more on an increase to than lowering .


Bitcoin may strike another ATH before the year ends but i see no chance of this bottoming again below that 30k level.

We're exploring the range between July pricing and the recent top, no need to think its more negative then that just yet.   Right now Iam thinking further downwards because we just challenged the 50 day average from the underside and were rejected so we continue on a negative trajectory until the outlook appears better.
https://talkimg.com/images/2023/06/12/Avpyv.png

Iam surprised just 1 person votes for 200 day average.   Its the most simple universal known market indicator on a graph, we are likely to pay heed to it in general.   Doesnt mean we have to go there, 200 day is rising which means overall we are positive market long term.   Its definitely reasonable to buy the dip but you may need to keep some powder dry as we dont know how far external factors will lower pricing.

Seeing bitcoin price movements since April and having dropped below $30k made many people pessimistic at the time, but after the market skyrocketed again, new ATH in early November reached $68500, as usual when ATH occurs the market is corrected but I'm optimistic for the month november to december prices will never drop below $50k.

I'm seeing the same rejection from the 50 Day MA that's rising fast, but also noticing it will begin to flatten out within a week based on the candles that will be removed from this average and price remaining at the current level, so not necessarily considering further downside as necessary before a continuation upwards. If price can move sideways for a week, then a flatter MA will be easier to challenge imo.

While usually I'd consider a re-test of 200 Day MA after a rejection from the 50, we are currently finding support from some considerable accumulation volume:


There's also a bullish looking doji candle on the 3 Day chart that I imagine nearly everyone is overlooking, one that shows buying pressure, despite the Daily and Weekly looking unhealthy.


I don't think that many people think we're heading for a bear market, even if price does go lower. This is probably why.

I think it's quite clear what you wrote, but this is a speculation board and anyone can write what they want, I have nothing against different opinions. At this point, no one can say with certainty (nor ever could) what will happen in the next month. What I see as a problem is the constant invocation of the bear market since Q2 this year, and all because of that the price of BTC is not at least $100k what many members of this forum are obsessed with.

Solid support at $55k, then at $50k, all the way down to $40k and lower it is no great wisdom - if most start believing we are in a bear market, then they will start behaving that way.

Panicking into those times on where the market is really going low is that a very common reaction even veteran ones but what differs is that these situations are really a good opportunity to buy back.
We cant really just have a market that would continue to rise its price so it would really be normal for you to assume that there would be corrections and thats the time you would be seeing
to buy back but it wont be simple because hindrance or hesitance would really be there on buying back so its a matter of risk taking.

This is interesting what will happen next as we are seemingly in the "bearish" mode. But we are still in 56k as we speak, maybe one good news and we will start seeing the rise of market again. Right now, I believe some strong believers are silently accumulating their stash, which is a good idea if you have extra funds to do so. Because it is only a matter of time before we see that 60k level again or more. And regarding its correction price, no one can tell such price, just keep an eye on the market.

Yes, of course, that is a common occurrence that previous resistance becomes a support but it is also a common occurrence that previous supports are turning into resistance. Right now, $60,000, which was considered a strong support in a way several days ago, has now become a resistance. But I agree with you that the bull run is not over. At least if we zoom out a little.


Out of reach in 2021 probably. But easily within reach in 2022.

I wouldn't call this a bearish mode, yeah maybe some period wherein volumes are low and obviously traders are shifting away from bitcoin and maybe trying to make money on some alts.

But then again, bitcoin is the prime mover, and there will be time that they are going back to it.

Yeah, we did try to attempt to break $60k but it was a failure and the price goes to $56k again. But still have a full week to try and reach that price again.

The poll doesn't have much votes but it seems that many people think that the previous pivot at $53K will be the bottom, which I also assumed and it makes me think we will either get front-run or it'll break thru that level and head lower.

One thing I learnt with trading and crypto especially is, if everybody is waiting for the exact same outcome it will most likely not happen. On a basic technical analysis level it seems that $53K would be a perfect long and many want to add their positions there, so most likely it'll never reach $53K and instead go to like $54K or it'll go below $53K to somewhere like $50K instead.

If this situation continues, I am afraid that the bear market will still appear and the price can get down for another deep. We do not know how far the bitcoin price will go down and bounce up again because there is no sign that we can use to predict accurately. Hence, our prediction can only give us a warning sign to prepare for any worst situation that can happen later.

While the price now seems stable for a moment can give us more time to analyze and find more clues. If we can use this moment to hit and run trading, maybe we can still profit, but be careful doing that. Maybe we should stay calm for a while and not do anything related to the market to see how the market will move.

nope how can you call this a bearish when price stays at 50k level? we even hardly drop down to below 30k last month?

I don't think we are in Bearishness or we will be there any time soon, what i am seeing is like early november when the price grows high after the fall.

and this correction is just a beginning of another Hyping.

We cannot call that we are at bearish right now knowing the price at the moment is pretty much expensive but if we can see the price drop down up to $40k maybe we can conclude that it is, but I still believe that we can still get a good run this December knowing this is kinda a good month for crypto. But if our expectation will not came then its good to wait up and see some good position to buy some at the dip.

The price is still quite stable, we can't conclude bearish considering the decline is not severe even I am waiting for good with time left until the end of the year there is still a way to go positive so I think bitcoin can still go against the direction with a little correction.
Once we get past the not-so-basic prices and we're about to enter the new year I'd say that's where bitcoin starts to improve with all the positivity, but still so far in my decline a little bit to collect bitcoin.

And for me,,, if not in 2022, I feel like I am ready for 2025. I mean I remember 2017 quite freshly and it only took 3 years for a return to 20k so even if we only return back to 69k in 2024 (3 years) and then taking 2025 to go to 100k I am well equipped after all this experience of waiting.

I thought hodling and waiting and selling as needed would be difficult but I passed personally to my own standard of flying colors  ;D

Everyone is afraid of the same thing, we are afraid that the bear market may come, however if you have some fiat saved aside then you should be pretty happy about the bear market coming as well.

People are looking at this in a wrong way, we should not see this as up equals profit down equals loss type of way, that is not how it works. We should be looking at it in a sense that maybe we are going to profit even more if the price goes down? I mean it is totally possible for you to buy some more if the price falls to 30k levels, and then when it is 75k one day you will have 2.5x profit instead, right? That sounds even more marvellous if you ask me.

Well-equipped with experience, nice statement I guess we are all is. However, not everyone is willing wait and hodl till the next 3 years. Even with much experience in a roller coaster ride of Bitcoin's price, some people are still skeptical thinking Bitcoin has peaked.
2022 is a highly anticipated year for Bitcoin to hit $100k. Don't underestimate the power of speculations, in 2025 Bitcoin may pass way beyond $100k, so I guess you're still in good hand If you plan to hodl till 2025.

I also passed my own standard in terms of having strong hands. I've gone through the 2017 bull cycle and the 2018 bear cycle. If I stood firm during those times, I could easily stand firm these days when the new $4,000 is $60,000. I am also a graduate of this hodling course with flying colors. But I honestly don't think $100,000 will come that late.


Let those skeptical ones stay away from the kitchen if they cannot stand the heat. Bear markets are there for developing strong hands. If they cannot survive then they fail.

If people think like you, I am sure they will be happy to see the bear market coming because they have already prepared some funds to buy huge amounts of many coins. They are not ready to see the bear market while they do not sell their coins at a high profit. People tend to hold their profit while the coin price can soar two times or even ten times from the price they bought so they miss selling at the highest price.

That makes them afraid to see the bear coming after that because they are not yet selling their coins and making a profit. Maybe we need to change our trading so whenever the price can increase several times than before, we can take profit and stay calm waiting for the price to be down.

I think its not the bottom yet before we can see a consistent recovery. It might go down further since there's no news that can affect the price to bounce back. So this will continue, but I believe we wont go deeper below $40k, based on previous correction.

We cant accurately predict how long and at what price this correction will be but as I have said it will not go down further to $40k. Its over a month the year is about to end, we know the last quarter is often the surprising season for Bitcoin and alts for moving upward unexpectedly. The history might repeat itself so lets see.

Yes for me the bottom had already at 55k and we will not be seeing another low before 75 barricade broken , look how strong market is holding at 56k for couple of days now and climbing back to 57k more often .
we cannot call that as critical mate , we have just dropped to below 30k recently but look how high Bitcoin climbed back.

Indeed,,, I think it is nice to go through all of that and come through bravely. I mean, we saw 20k and we also saw 3+k after 2.5 years and we still stood strong. For me also personally, I saw ETH below $90 (but it sort of does not count as I entered it even later AFTER 2017 when price was more than 50% down).

Try not to celebrate too much as more tests coming  :D


If a person is not able to hodl even 3 years then I am not sure if you can actually call them a hodler?

I never underestimate anything. This is Bitcoin :)

If at all there will be any serious upward trend before the end of this year one cannot tell but to say whether we are at the bottom now or we will see further down trend any moment from now before any serious upward direction is a yes from me.

at least 35-40k the lowest before finally break that 70k barricade and continuously grow to 80k in the end of the year.

I'm not confident about the target price of 100k but if happens then thanks God.


There are a POLL in the OP , i think your answer is far from the literal question so please read the OP first .

Bitcoin still respecting some EMA such 100 and still above 200 ema on the daily time frame, so we can say bitcoin still have a chance to make a good improvement before this year end.  And base on the 4H time frame there's actually a strong support around 55783, because bitcoin really respecting it 2x since nov19 until now, but there's a strong resistance as well where bitcoin price can’t break out reason there's always a retest from the particular price.. Let's just hope it didn't go through below because if that times happen.. Our only choice is the 200 ema if it will gonna respect it or not, and we all knows what will gonna happen if its negative..

Most people don't like it when a bear market comes, because their assets are depreciating in value. Then because most people also have limited capital,
so when it's too late to sell the coins they have when the price is high. Then they can only hold the coins they have, until the price goes up again,
because they don't have money anymore if they want to buy more coins at low prices. If this is the problem, there are only two solutions to deal with it,
the first as you have described, sell the coins that we have when it is profitable. Then the second solution, we can just keep holding the coins we have
until the price recovers, and we can keep ourselves busy with other positive activities, so that we don't get too stressed about the bear market.  Please
choose the solution that we think is comfortable to follow, because not everyone has to have the same strategy when investing in crypto.

We can actually rise from this current price but wait till it breaks the negative trend if you want a safer trend.   Even if it does break the trend of lower highs etc then it can still resume downwards, its never for certain but at least the odds improve at this point.  Also to be above the weekly average helps alot in momentum usually.
https://talkimg.com/images/2023/06/12/AviLJ.png

The future fight now will be that 50 day average in blue, that was the minimum during the spring for positive pricing and now we find market is not in that meta

If you take your time to read my submission well with a positive mind you wouldn't have said what you point out here but that you are reading it with a negative mind and that was why you replied me this way. The bottom line of the OP question is will there be further decrease in the price of Bitcoin or we are at the bottom correction already.

Imagine if they are not too late to sell the coins, they will not have a problem with the bear market instead will wait with happiness because that means they can buy many coins at a low price. If they can make a profit at the right time, they will get more funds in their wallet that they can use for many things. But yes, most people are greedy and delay selling their coins so that makes them regret it. As long as we know what we should do, we will have a chance to use any moment in the market. Hopefully, we can still survive in any conditions and situation.

There are plenty of reasons why we expect a drop in price this month to next month.

Some of the reasons are, investors are taking profit for the year-end, and too high selling pressure that would result to dump. The hype is probably over as although we hit an ATH this month IIRC, the price still resulted in going down opposite to our expectation that it could go as high as $100k by the end of the year. It's very unpredictable now, but regardless, I think we should be happy because we can still call this year a bullish year even if bitcoin will drop to $40k.

Let us always be realistic, we must be open for a possible dump or huge correction to come.

I agreed with you that $55700+ is a strong support, it also serve as resistance on 10th October where it held the price before the breakout of the price with reference to BTC/USD daily timeframe, though the price is below 200 EMA on 4 hour frame which is flat, an indication that the bearish trend is not strong and slow momentum and volatility, thus the strong support at $55K+ should hold the price after the correction, however if price breaks that support then it might correct to $48K+ though this not feasible at this point in time.

I still believe that 2017 history will repeat itself simply because some big investor came out and enjoyed the profit of their bitcoin investment over the years. Although many of these pessimistic attitude are not supported by in-depth analysis, I believe the bull will not be able to run forever. This investment make us on the verge of uncertainty where it is difficult to say anything with certainty other than we can only speculate and also predict where the price will go. So it would be easy to say that nobody knows if we can enjoy ATH above $69K again at the end of the year and I think it's hard to see it hit $100K in just 1 month.

This is a good analytical result for short-term trading, but something different might emerge if you analyze for a timeframe of 1 to 2 month. We expect ATH $69K to be breached again later this year, but it seem hard to see if support can hold it firmly. We are currently only $13K away from the previous ATH, this will be the resistance we hope to break during the end of the year.

Correct, we've been holding that support ever since since drop from the last all time high. And so far the market is strong at supporting at least the $55k and then we are just bouncing around but not going below that price. But in any case it crumbles, we are looking at the $48k first at the next level of support.

So no sub ~$50k for now and it's just less than a week before the month finishes. And as we enter December, I hope that the bullish sentiments will surface again and push the price at the end of the year.

I would add leverages as well, there is a Christmas and new years and basically all around a lot more profit taking right now and that is one of the main reasons why it would drop but I would add when that price drops, there will be a lot of people with long futures and they will end up getting liquidated as well, it would really be a horrible situation for them but it would also take bitcoin out of the market to buy USDT to cover that difference. There is really a million different things to care about but I do not think that there is a good reason to care for things like this when you could simply hold and wait and watch it recover eventually.

Still optimistic that since bitcoin still holding and trying to bounce that $100K is still possible or maybe it won't be that high, but achieving back the last time high is also fair to call the year and start making another move next year. 

It's tough to say that we needed to keep holding while we are witnessing the market is crashing. Strong and positive views will allow you to continue keeping your assets.

While for some, this crash may have another wave and push the price to fall even more.

Just putting this right here...  And don’t take it the wrong way.  Lol.  I’m just talking about it as I see it.

https://i.imgur.com/KeAZkPz.jpg

Anyway...  Just like I said, there’s strong support around 40k and even stronger support around 28k - 30k which goes back to the start of the year.  I’m not saying it’s going back down to 30k, I’m just saying it’s a support level worth looking at.

And I’m also not trying to claim I’m good at this but this is not rocket science either.  I mean look at it.  30k is obv solid.

After experiencing a correction, many analyze with the right support to buy but at the end of this month bitcoin support area is 50k or after 30k maybe we will see it soon, I don't know if this is the effect of Christmas or the holiday season, this correction is clear a lot of noise with support in the lower area.
If this holds up it means bitcoin is pretty strong, but still I wouldn't take it for granted with some of the analysis and I'd like to see how it turns out at the end of the year.

Don't worry I'm not  :)

I'm actually liking the way the 2nd pattern invalidated it's topping out structure by going higher, while the developing third pattern invalidated the 1st topping pattern.
To me it looks like stepping stones with $50Ks old support likely to act as new support, as has happened with previous horizontal supports of $30K & $40K.
If price finds support from the $50Ks and makes new ATH, people will be kicking themselves over how simplistic and obvious the recovery was...
If you bought $30K support, followed by averaging in further at $40K support, then you should be buying $50K support as well. Simple stuff.

I would say that Christmas is part of it for sure, I mean every time we get closer to December we end up getting a bit lower. I am not saying that it is a must, we had 2017 where in December it went up a lot, so it is clear that we have other days we end up with bad results as well as good results. This means that as long as we are talking about December increases and decreases, Christmas is only a part of the deal and not the whole thing.

So, if you ask me right now we are living both the bad part of Christmas, following a big fall already doesn't help, and we already increased a lot so it is not even a full drop since we are so much higher compared to last year hence making it harder to keep going. All this and then some gets included whenever we are talking about something like a fall or increase, it is always a lot of reasons and not just one single reason.

You and several others who are experienced in the crypto world will find it easier to control greed and be able to sell Bitcoin at the right time.
Then when Bitcoin is corrected like now, you can buy Bitcoin at a low price, and hold Bitcoin until the price goes up again. This means that for
people who have knowledge and experience it is not too difficult to make a profit from Bitcoin.

But for the newbie who doesn't understand how Bitcoin works, often make decisions based on the opinions of others or even obsessed with
big profits. So newbies are often late in selling their Bitcoins and when the Bitcoin price is correcting like now, they will panic and do a cutloss.
This is the importance of knowledge and preparation before deciding to invest in Bitcoin, so we can avoid making wrong decisions. We should not
be too hasty in investing in Bitcoin if we still don't understand how Bitcoin works, and if we start investing, we also get used to using small capital,
so when we experience a loss, we can consider the money as a learning fee.

Looks like you could’ve missed a 50k entry if you were planning to wait that low.  Support turned out to be strong at around 53k or so.  And just in time for a new month.  It could be another trend up just like October for BTC.  If not even bigger.  But we’ll see...  I’m crossing my fingers.

In alts, it’s ETH that’s looking strong and could break for another all time high in a week if its run continues...  I was hoping it would be DOGE going front and center to make strong moves.  :D