Bitcoin Forum

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

For most they can skip the analysis part and just head straight to buying some as long as they fully understand the fundamentals. Analysis is a fancy word for looking a charts and making conjectures based on that, you could or could not be right, what is almost guaranteed is that Bitcoin would outperform the current price if you hold long enough.

DCA and hodl.

Bitcoin can not get to $15500 again, but bitcoin can still get to $20000 once more before going to all-time-high. I am waiting for $20000 once again for me to buy more. If bitcoin do not fall to $20000 again, I will buy some weeks to halving.

I too will advice people to DCA. It is a good strategy. An excellent strategy when bitcoin has decreased very well.

Exactly because long-term holders don't consider the price before buying more Bitcoin most especially when the price is already at a discounted price,  because whatever price one bought Bitcoin in this year 2023, it is still at a discounted price compared to what the price will be in the next two to three years or five years at most,  so whatever price bitcoin is bought around this period for long term reason it still discount.

There have been many speculations of a further deep price but the question is that when and how this deep will happen.

So for that one need to buy all the way down and sell all the way up,  that is the best DCA practice for maximum gains for the short term.

But for long-term gains then one needs to continue to hold and starch more at every chance.

Keep holding on and buying, and you are right that avoiding panic during a dips is the best way to avoid losses.
Many people would suggest DCA to be done, but I'd say a lump sum is fine too. If you are consistent with this plan, then you can definitely survive whatever happens in the market. The volatility in market prices right now has something to do with the SEC, but don't worry too much about that because we're probably going to get more disapproval about it.

I'm not sure what will happen in the short term, but today especially in the last hour bitcoin price has found a new dip. There is an opportunity to buy, but do it with DCA. Here is a chart for 1 day TF.

https://i.ibb.co/By3sVj1/BTCUSD-2023-06-15-04-43-51.png (https://ibb.co/F537bJP)

If the price falls below this struggling $25k right now, then I don't think there will be anything that will stop it from falling below $23k, and if they eventually happen, then we will be looking at 20k again after a long escape and it trying so hard not to see $20k again.
Let's see what's going to happen in the next few days or the next few hours of the day.

The rate at which the price can still fight back, I believe, will all depend on how well holders can hold and not panic sell at this critical point in time.

Should bitcoin test the $20k support and the current economic crises doesn’t suppress and the exchanges continue to face the challenges they are currently facing then I see it also going down to like $16k again. Some few weeks to halving seems like a good idea to accumulate because I just sniff into the past price of bitcoin two months before halving and I saw that it normally experiences downturn and I think I would be looking into getting more around January next year. Even immediately after halving the market normally remains and only it the bull run at nearly a year after the halving. So immediately after halving is another good opportunity


DCA can also be utilized for accumulating bitcoin for long term holding too, most especially a period like this that the market is fluctuating. If you are having extra income and need to accumulate then probably weekly or monthly DCA might seems better. Because if one wants to wait till the price hit the bottom a bit he might miss an opportunity because bitcoin still remains unpredictable

Looking at the chart alone, it seemed extremely obvious that we would be retesting the $20K level as it was a textbook head and shoulders pattern that was forming. I thought with insane inflation that this pattern might have difficulty completing, but today it definitely seems to be moving in that direction. If we do see a drop to $20K, I’ll be a buyer.

the price will only further drop if there will be such bad news that will emerge on this market like big exchange getting out of business, or big crypto project turned out to be scam and other big events that can possibly have big impact on the market trend.
but the drop may be short span, as we have seen throughout the years, btc always bounce. you can't kill this market. even china couldn't. remember the banning of crypto of this country. and yet, it seems they are changing their stance as they have seen, they are not much of a big influence in the survival of this market.

Those big events don't just turn positive over night unless people actually believe them. The part that I see will always trigger a huge fall is the crashing of big firms with huge amounts of Bitcoin holdings, which always puts fears in the eyes and minds of some investors and will trigger massive panic selling, which I see as the reason to price dump. If such bad news comes out and people seem to overlook it and see it as one of those things, the Bitcoin price will just remain the way it is because there won't be any recorded huge sales or huge withdrawals happening from a particular exchange or private wallet.

With the 3.0% drop within the last 24 hours is something we must worry about and start to redirect our speculations of bitcoin price towards the direction of 20k price as the baseline for bitcoin deep walk in this period even though it is not clear the direction the price is going to take next,  but we are certain that touching the 20k region once more will give a lot of investors to chance to get in at a very discounted price.

But the question now is that should long-term investors wait for the price of bitcoin to touch 20k or below before they get in despite knowing that that price may not become a reality if bitcoin decides to go in the opposite direction or should just buy in the current price which is low enough compared to when the price was around 28k-30k a few weeks back?

I guess it's 50/50 at this point, there could be investors or speculators here who wanted to see price going below $20k (for buying purposes), or there are individuals who think that we have been the bottom already.

So yeah, why not take advantage of both situation? if we see the price testing < $20k this month then buy more?

It seems though as of currently, the price is just within the support line of $25k. Again, we don't know if this is going to hold or now. But base on the sentiments right now, it could go down and then we see support at $23k and so on.

The thing is that we should know how to react in this kind of price drop.

It needs adjustments instead of encouraging more purchases - I mean you are not yet out of inflation and after all the necessities of life and costs need to be looked at too. Don't rush into buying if you can't afford it - but try to hold on at all costs while planning for the best.

The price will recover - you just need to be patient and not get swayed by swings. So let's get up and think about something better - but for now you just need to be a strong hand.

Im expecting 23k on which it isnt really that too far off considering that we are sitting $25k as of this moment. We dont really have an negative news in the market but there are some sell off with those whales on

Binance basing up on Whale Alerts on TG on which this one indeed cause such that red candle.Is this a hint that there might be some further sell off later on? Lets see and this is what im anticipating.
Not all would really be that emotionally stable or having that endurance on seeing a declining market but instead they do freak out and whine instead of making up some position or buying on the bottom.
These are the times on which you could really consider yourself bagging up which its still cheap because there would really be in our mind that this might be the last
dip or decrease before we could moon. Well, its just anticipation but most likely this is something that mainly in our minds.

The fundamental analysis Bitcoin pretty much can still bleed if the ongoing case with SEC is not done yet. Binance or Coinbase should win the case, if both of them are lose maybe we can see another bleed this month.

The Technical analysis Bitcoin daily candle is still above 200 EMA which is a good thing and there is a support zone at 25K level


Worst case scenario we could back at 23-21K level

Closing last month I expected bitcoin to rebound to the 28.5k resistance area and to consolidate there through this June, at least just a slight change in trend when the FED announces new policy.
Really, the SEC's case against binance was unthinkable. I think the SEC will continue to chase a few more exchanges and this story will continue into next July.

Well, I'm surprised Bitcoin did not fall further than and hold its ground to $25k up until this moment after the SEC had a simultaneously lawsuit against coinbase and binance. There was a panic for sure after the SEC wants to freeze some binance asset, but luckily the judge didn't allow it and let binance continue to do it's business like usual while the lawsuit is on going.
There might be some more decrease any time soon and it's just a matter of what will be the progress on the binance lawsuit it will surely affect bitcoin's price.

Well it’s possible. There is just way too much regulation going on in the US that’s it’s possible it might start a sell off. However keep in mind that I am pretty sure there is nobody left to sell and bring price down to $16K again.

Weak hands already sold and those who bought at $20K won’t sell at $15K. With alts it’s different. With ETH I can see it happening if SEC says it’s a security but not with BTC.

The bitcoin price is being shaken by several negative factors such as the Fed potentially holding interest rates down and also Binance being in shock due to the unfinished lawsuit from the SEC, and several other factors including panic selling.
but my takeaway is that anything that makes the price of bitcoin go down will eventually go up again, and if we look at the trail of growth bitcoin is always being tested but growth is continuing to grow and build that could eventually turn things around.
and I feel fine even if bitcoin's downturn will continue, because I'll take it as my opportunity to continue to pool bitcoin and do DCA and increase buying as long as the downturn continues and hold it in for the long haul. Looks like this year has been a good year for DCA strategy.

@indah rezqi, With my experience so far in the crypto space, selling so cheaply should not be an option for a real investor because the market will always see a bull run in the right season. Bitcoin is not like every other altcoin that is pumped and also gets dumped. The bitcoin market can be volatile, and anyone investing in it should be aware of that. I don't believe that Bitcoin could drop to $20k again this year just as you've mentioned, but even if it does, investors should hold tight to their portfolios because if there is a big dip, the uptrend will also be big😜. Also, the market is not usually so predictable;  someone can speculate for $20k,  but instead, it will go below $20k or above $30k. The approach for Bitcoin investment is to hold until you have earned your desired profit, otherwise the person can continue to DCA.

I still believe that the 200 EMA works well as a support level, and if we happen to break it (a price below 25k), we will inevitably do a quick test of the lower level, which is at 21k, and then stability for a period around 23k to 27k but I hope that we will not see rapid growth above 34k soon, because this is sometimes an indication for pumping liquidity into the market at a time when you do not need it, as it is difficult for us to reach levels higher than 34k soon, and because there are no resistance barriers at those levels, and there is not enough liquidity to reach above 40k.


Returning to levels less than 20,000 is impossible in the current circumstances and needs something very bad to happen.

Good advice of course this friend. The question is, is it possible that some of us are ready to sell at a loss?
Feeling confident that the price will improve again is a strong motivation even though the support price is still at a testing level.
This market condition gives us a pretty good opportunity to find money to be able to buy more Bitcoins or add more to the number of Bitcoins currently held.

and maybe this situation will continue for some time to come before entering the new year which makes me personally try to make good use of it without having to panic.

Bitcoin can hit prices below $20k again but hopefully, people won't be shocked and panicked, especially since the price is now dropping again. The test for Bitcoin may be even tougher than before because if the decline persists, some people may not be ready to see it.

And market conditions are now more difficult to predict and coupled with the government tightening the movement of crypto, it can limit the movement of crypto and get people in trouble.

We must be aware of the current situation and prepare a budget to buy Bitcoin at low prices so that we can use this moment to accumulate more Bitcoins. And don't panic if we see the price drop and hold on to Bitcoin and buy it again because that is a good opportunity to buy again.

Exactly, bitcoin could be able to test support to its lowest price I believe if where is the price back at $20K in this downturn for example in a few months then I need to increase the budget I want to buy more with a lump sum so when it is at $20 K I can add more portfolio on bitcoin.

I would never panic as this is not a sell target anytime soon, but what I have to think about is that when it bottoms out I want to buy more and that should be considered from now on as it looks like downward support is a possibility for sure.

But for does who don't know much about analysis just take advantage of every price drop to buy more and always remember the rule is to buy low and sell high so no matter the wave of the market never sell for a loss, Instead search for more opportunities to buy lower so that no matter how long it will take for the market to make correction the profit will come in dual form first at the price of the last entry and next at the price it was before the retracement began.

Panic is the reason that the price of bitcoin drop and now that the price has been dropping gradually, I won't be surprised if we test $20,000 or even lower before the year ends. Bitcoin has the history of dropping ridiculously before halving so it is yet another time to watch out for windows of DCA because after this dropping experienced, the chances to get in afterwards for a lower low may be limited. Halving is surely a hope for another bull profit.

It cannot be ignored if the price dives down again because some other negative things can affect the bitcoin price at any time, I even agree with you that in a few months maybe we will not see a green candle if the conflict between the two camps is still not over if they are still heating up chances are the price will definitely continue to have an impact.


For me for the current year HOLD is the best way to maintain until next year's halving because we will see a cyclical movement that will occur in the following year and maybe that's what we hope will start a bigger reaction from the price increase.
For me, continuing to do DCA is the most effective way, but if you have more reserve funds to put into bitcoin, that's also a positive thing.

There is no guarantee that bitcoin will not touch 15k again. If you believe bitcoin can touch 20k again, it also means that it can touch 15k. It only takes panic to push 20k price to 15k and that's it. I least expected that bitcoin will go below 25k again till bull run and now it has happened. All you need do is to speculate it and when you speculate, there is a tendency that it will happen.

This is right. Nobody thought too that Bitcoin will go as low as 15K after reaching 67K. That price dip is more insanse compared to the current price to that 15K. Telling it impossible while more disastrous dip is already happened previously.

There’s a chance that the chart is forming another higher low for this bearish cycle. Actually, there is no solid bullish news aside from the SEC slow down on the interest rate since inflation is still there.

This is one of the best time for us to hold Bitcoin and other altcoins if we really want to make money in the crypto market. The market is not so appealing now and we need to make sure we are not misleaded by the news that could make us not to take this opportunity of buying low and selling high later.

It is of advantage to people that are traders to analyze the market and understand what the market is capable of doing next. Those who are not traders might find this very difficult because they can't understand the market. So many coins is down now and people that make use of this advantage are those that have the finance to invest in cryptocurrency in large quantities.

I think it won't see under 20k, that's just way too little and I think it will do better than that. Surely it is not a guaranteed thing but we need to remember that it is not going to be a big deal at all. We should be remembering that crypto is a situation that would end up with a big trouble if we keep this up.

I remember that we are looking at something that would make a big deal out of nothing if we keep this up, and I believe that we can't really make it work if we keep it going with lower and lower. Market needs a bit of up to continue, even if it is not a lot of up, even if it is not 30k+, we could still end up with like 27k or something, which would be up a bit and the traders need that, if people stop selling for a minute, we will see that happen for sure.

Unlike yesterday, bitcoin today is showing a positive trend again to counter the negative trend throughout the day yesterday. I mean bitcoin price has bounced back to $25.5k in the last hour which allows me to hope $24k won't be hit, let alone lower. Of course there is the risk of a downside that is worse than yesterday but as you said, it won't happen without a lot of bad factors hitting the market.

There has been some positive news supporting the recent price increases, but I still see traders being too panicked to sell especially for quick profits. Of course the market is still red, but 1 day TF has returned to green.


That's right. The SEC is bad, but I hope the impact will diminish gradually.

Many people think that either $25K will hold as support, or otherwise price will re-test $20K again. This is more or less why I think neither will happen, but instead price will find support somewhere in the middle around $22K/$23K. I write this even has price bounces $500 to the upside from below $25K, but as for shorter-term time-frames, the structure still remains bearish for now without much bearish follow through.

The irony is that if $25K doesn't hold as support most people will consider the uptrend broken and therefore $20K to be inevitable, whereas there is a lot of support in between on longer-term time-frames.

I love the fact that Bitcoin got a bounce at $24.5K Using the weekly candle, which the area should now be acting as a support level after it initial drop to the zone during the early hours of today , these zone happens to be a critical level for Bitcoin to hold in order for the price to further maintain its higher lows in the weekly time frame, hence next destination for Bitcoin maybe coming back to revisit the previous low of $15k. But having already gotten a nice bounce back to $25k is a good sign that buyers are stepping in and trying to hold the price from further drop.

Basically I really want to get your post that has good arguments and analysis, but unfortunately I can't because of sMerit's limitations. I'm glad some of you are really prioritizing analysis over mere opinion or speculation, that is much more desirable as this is still a long term plan.

I hope the new support survive better to support more attempts to break the strong resistance. I think I believe $24k wouldn't be too strong if the panic that followed FUD from various media was not handled with care, so it's best to keep DCA in mind as a backup strategy when making purchases.

I think todays news about the postponement of the asset freeze decision on Binance.us has temporarily halted FUD so price is potentially holding on to new support, the panic factor is due to investors/traders rushing to respond to the recent issues so they are accumulating high losses on their assets and also the support of whales which has sent the market down significantly.

But it's difficult to determine the next speculation until there is no final court decision regarding the freezing of binance.us assets, I do not expect another low but really hope that the $ 30k recovery can be recovered by the end of the month.

That is one of the reasons why a positive trend appeared in the market today, but stay alert because I think manipulation is still possible. Whales may prompt more panic selling for weak traders, so even if the bitcoin price is rising and appears to be recovering after the correction, downside risks remain.

Some circles have urged the SEC not to freeze assets and not release their assets out of the US, that is the proposal. But however these can also be considered as good fundamentals to expect a trend change. Let's see what happens in the next few days, I think it will be interesting.

Of course it's not outlandish to expect $30k to test as resistance, and I'm inclined to believe the market will be looking to break down that wall once again later this month. Even after a new support level occurred in the last few days, today the market has started to improve with good movements. The bitcoin price has returned above $26k which is likely to continue rising until it hits $27k.

So there's really useless to panicking when the market is undergoing a correction. Of course I don't expect another low in 2023 although the $20k support level could still be tested, but due to the undoing of the BinanceUS asset freeze, I think it will also have a good impact on the price recovery.

At this point it is impossible to know what the price of bitcoin is going to do during the next months, the price went below the 25k support level for some time but the bulls came roaring back and now the price is above 26k again, this tells me the 25k support level is very strong and we will need something more than the current speculation to break away from it, so unless new FUD emerges I think we may remain at the current levels for some time.

I'm not sure $25k has been strong support once bitcoin has dropped below it. But if the market and traders are taking their fundamentals seriously, I mean blackrock then maybe a price higher could set $25k as solid support.

There has been a lot of positive news floating around in the last few days which has also generated a lot of excitement on the lookout for the daily charts. I expect the trend to continue until the end of the month and $30k becomes evident. Well this is just hope because of my optimism for the market, but now the positive news will support my optimism.

Despite the SEC issue between this known exchange Binance, I was not thinking that it becomes a reason for Bitcoin's price to fall to $20k (again). This situation only give a huge impact on Binance and BNB, with less effect on the entire market. Meaning, Bitcoin prices will fall but not to the extent that they drop badly. We don't need to believe those FUDs saying huge dump, will it does during the bear season but because of the said issue. So, I still hold and probably have to buy more when dumpers sell their coins at a cheap price.

The idea that you won't be surprised if the price tests the $20k mark but assured that it won't are in contrast with one another. We all know how unpredictable this market is. The price could move in any direction, in any market price point and anytime, as long as demand supports that movement. We are just around half of this year and there are many things that may happen still. The anticipated bullrun is believed to happen next year, meaning, a price correction may still happen if anything related to this industry would pull the prices down whether it is just an FUD or not. Nothing controls the market price aside from demand, and demand happens to be a varibale being affected by many things.

But no matter ehat happens, best thing is to just hold. In order to do this, manage the risk on investing an amount because it would allow you to stretch you tolerance with bearish market patterns.

How can you be so sure that Bitcoin won't fall as low as $15500 once again? We all know how unpredictable cryptocurrencies can be, especially Bitcoin which has always surprised everyone whether with its significant growths or with its unexpected drops. History can always repeat itself and we can't really be sure whether the price can drop to that level once again especially if there are so many bad things happening for cryptocurrencies.

That being said, it is always better to simply do DCA instead of waiting for the perfect spot to buy because you will barely be able to achieve that successfully, and who knows what the price would be some weeks before the halving? It might be higher than the current price which will be a bad deal for you obviously.

That is the most important thing that we are supposed to do because no matter what we do, we can never tell what makes the market dump or pump. Could be the SEC or anything as even the news also have an influential impact on the market trend. The dumps are not a worrying part of crypto because as long as we are holding, we're not losing any cents but the moment that we are panicking and selling off our coins, that's the time we incur losses and blame the market.
Trust and Patience are needed in crypto investment -and I think it was simple to understand.

Good news is getting more and more coming and I'm sure the Bitcoin support level has been reached at the end of 2022 which reached $ 16k,
and now the bitcoin price is still above $ 20k I don't think this year has touched a new support level anymore but we in 2023 can reach this level resistance,
moreover Good news from China can be a booster for the crypto market.

And it's good to see that somewhat the bloodshed has stop, we are still very much in the $26k range. We've recovered some after the start of this week when the price drop <$25k.

I'm not really sure what good news you are waiting from China, but I highly doubt it. And I will take everything with a grain of salt coming from them. The best thing to do is just remain calm, and wait for a true bull run, not artificial boost in the price or some form of manipulation. But remember though that we are still in the bear market so the price could drop anytime but hopefully there's no more lowest lows for us.

No one knows where bitcoin can fall, but still there is a lot of negative news from sec and binance right now, but bitcoin didn't fall much because of that and even bounced back from support around 25k. Just the fact that bitcoin hardly reacts to negative news tells me that we are unlikely to see 15k again. That would be very good for those who didn't have time to buy in January. So I don't see the logic for the price to fall that low again.

This is probably due to the large number of people who still want to buy Bitcoin around $25K so that the support of many people makes the price of Bitcoin still tend to increase at this time even though it only happens slowly. And I also think that Bitcoin is likely to be a little more difficult to get back under $20K again if there is still stronger support in terms of buying every month even though at this time Bitcoin is still under $30K, but I also still really believe that Bitcoin will continue to improve to surpass $30K in the next month.

When it dumps, people are buying and whales are accumulating more that is why it won't make the price of Bitcoin fall hard but pump back again. If we could hear about manipulation, it is something that really happens in the crypto market and we can't expect that it all in the inclining price trend as a decline was also possible.

Reaching back below $20k is not impossible but we believe it won't because of the strong support that we have these days and besides, we're not going bearish as certainly happen. We're moving out of that situation, it dumps somehow but will then recover fast.

Unfortunately there’s no good news coming into this market as of the moment as many are still focus on the issue of CEX and SEC, well let’s all hope that the price of BTC will not touch the price of below $20k and will continue to hold its current position. There’s a lot of market pressure and FUD but i know this is just temporary. Hold more and wait until its recover again, bull market is still the target for this year.

I think its going to be not that difficult to handle this time around. I get that 2022 was a similar year and that was a problem for all of us but the reality is that if we could handle 2022 then we can definitely handle another test. There are way too many bad things happening at the time but that doesn't mean that its going to be a bad result on the long run, all those bad things that made it go down, could be gone in a week if there is a good thing. Think about it this way, we haven't been above 30k for a long time aside from that one time in April right? So that means 30k+ is a good thing, we have been dropping like crazy and 25k is the norm now, so if one good news happens and then it skyrockets to 30k, suddenly all those bad things will feel like it didn't happen at all.

Well, I guess its been how many weeks now since the SEC sued Coinbase and Binance now and it looks like bitcoin price did not react that much threatening to touch the $20k level. Though it attempts to go below $25k after the SEC wants to freeze binance assets but immediately got back up when the judge decides to just let binance do their business as is while the investigations are on going. So, I don't think bitcoin may have fall at that level as the market sentiments are kind of positive right now. People seems buying the dip and trying to accumulate as prep for the upcoming bullrun that the halving may cause next year.

Even if Bitcoin drops below 20k, they will immediately recover and come out again. Most people don't sell bitcoin anymore. Because they have been holding bitcoin at these levels for a long time. I don't think it will go below 20k, but I'm not very sure as we know the days when the market surprised us. We need to have money to buy in a possible decline. This is how we can plan.

I would also like to point out that. For me it doesn't matter if the bitcoin price is 24k or 19k. I'm waiting for bitcoin to reach its target. This target is much, much higher than these levels.

https://www.talkimg.com/images/2023/06/19/HQBwH.png

That blue line is the 200 Daily Moving Average, and that indicator is a very strong indicator on what is the current trend of the market. We know that there are no certainties in the market right, but just by looking that bounce that happened just a few days ago, I guess it's pretty obvious that the bulls are still in control despite of what happened in the market currently. It touched the 200 Daily MA, tested it, and went back up again.

Of course like what OP said, $20,000 is still possible, and we might see it being re-tested, but what are the chances of it to happen? As long as there is no FTX-like event that's happening in the next months, or this year then I don't expect that it will get re-tested this year at least, or we might not see Bitcoin going to that price again at all.

Anyway like what others are doing here, I'm just focus on Dollar-Cost Averaging, and preparing my exit strategy when the bull run comes.

The thing is that it's going to be institutional investors who are going to buy those cheap bitcoins, maybe we can hear BlackRock or MicroStrategy very happy to see the price going to $20k or below.

But there could be smart investors around us here, buying in the dip and price decline and going to swim with the whales. And even for those who are not going to buy, just continue to HODL, there will be no losses if you don't sell so you might as well remain calm if ever we see the price at $20k again and been retested.

I think the logic is that we have seen this before, when the yare starting to buy, that means good things for the near future of bitcoin. I mean we were down, even more down this during 2022 and there weren't this many buys, and yet lately we are hearing more and more buying, that means they must think that the increase is coming close and it might happen anytime now.

When you think about it that way, it is not going to be that much of an easy step and we could end up with a big trouble later on. I hope that it gets better and we reach to a better point, because if we can do that then we are going to be fine, it will be fine. I think it is not an easy task, but believing in what you can do with what the future shows is something we need to start realizing, these companies already did.

I don't expect $20k to test support or even drop below it. But still, it was the worst possibility I ever thought when SEC attacked Binance and several other platforms.

Gradual price recovery is what I expected instead of a dip below $20k. However, some people may have made their own analysis that the sideway condition or the potential for a dump is still too big to ignore at this time. So far the bitcoin price has held above $26k for the few days since its last correction, but for further hope I think $27k is the closest resistance to test. Hopefully it can be break in a few hours.

Suing someone isn't really that damaging. SEC charged Ripple 2 years ago and we are still watching that to unravel.

What happened is that SEC decided that many altcoins were securities, and now they are suing exchanges for allowing buying and selling of securities all along.
Keeping in mind that those weren't securities just while ago.

So now CEXes are unregistered security exchanges. Bittrex just gave up. There are many things that are weird in this but funniest thing is that either side could wint this. We are in uncharted waters and crypto is stlll relatively new. Regulations can still change a lot, even during the court fight. One thing i am certain is that this will get way more complex then it already is.

You can say with full assurance that it won't get below twenty thousand in this year 2023, because Bitcoin predictions doesn't work perfectly or accurately, whosoever that's predicting the price of bitcoin is just making assumptions of bitcoin from my perspective, so therefore I believe that bitcoin has to accelerate in price due to market conditions of demands and supply and secondly the price of bitcoin can be affected through a negative information or wrong speculation of cryptocurrency generally.

If the dump unexpectedly occurs like tomorrow let say, then people are going to be shocked because they believe that the price is getting stable and is continuing to the bullish state but Don't worry because being shocked is only just an impression. They can still think normally and will probably hold on or buy more coins.

The natural market conditions were supposed to be easy to predict, if only there are no news that can unexpectedly occur. Each bitcoiners are fully aware about the situation of BTC. Maybe some will start buying now that the price is still lower than last time or some will choose to hold for a while and will wait for better opportunities to come.

Based on past cycles it is unlikely, but not impossible. The point is that it is better to look at the big picture and think about where bitcoin will be in 4 or 8 years for example, and you will be much better off if you buy bitcoin now and you hold it until then than if you do not. If it goes down a bit in the next few months it is a noise that should not bother us.

I think you are thinking about the Bitcoin halving because we are getting closer to it and many people feel bullish about it. There are other good news too like the China re-allowing cryptos but I think that wasn't new anymore. As of now, we mostly get a bad news about the crypto regulations and targeted country was the US.

Let's just hope that it won't escalate from banning the cryptos there because that will make the price dump even more. Each year, there will always be a support level for the crypto prices. In 2022, it was $16k but this year I think it was $27k so far although this might change later on because we still have more months left to finish the 2023.

In the last few days there has been talk everywhere about blackrock and new etf. I think that is the best good news in a while. These guys have been buying cheap bitcoin and will soon be selling it at inflated prices. The price has bounced back nicely today. If buying volumes show up soon, we can expect a new rally for bitcoin. There is really a lot of positive news so far.

Of course that should be seen as an opportunity rather than a distraction. I wouldn't necessarily say that a drop in the price or correction in the price of bitcoin is a bad thing, but it is a good thing to support the idea of ​​accumulation and reserve plans for investors. Buy now and hold for the long term, that's the best advice if they want to get good returns if a new ATH of bitcoin occurs in 2 years from now.

This is a very straightforward strategy and even then the majority of the people are going to be unable to perform it as they should, and this is because even a holding period of two years seems to be too long for them as what they are really looking for is to obtain massive profits by investing in a shitcoin and multiply their money many times over in a matter of months, and when someone has that kind of expectations then holding bitcoin seems like a very slow method to make money.

This is 7days you made this analysis. Although after you posted this chat, bitcoin dipped more below the 25k range I have always considered to be a strong support. But the good news is that bitcoin didn't last below 25k for upto 24hrs. But as of today, bitcoin has made upto 4% rise with reference from this infographic.
The market isn't really prepared for any drama of price yet, it is just the SEC and Binance, Coinbase drama that is fluctuating the market.  But I do not bother much because the target is halving.

I'd be fairly surprised if BTC was especially negative in 2023, the negative part of what price action is doing is to be sideways often.   Dreary more then disastrous, staid more then seriously sick :p  Bit less drama I reckon might be in order, the positive attempts higher can fade out but so can the swoops down low I think.
      Right now today we're breaking above the 50 day average which does qualify as positive and its not done this since falling below start of May.

The price swings in the last 24 hours have been quite encouraging, of course as bitcoin has managed to break through the supposedly strong resistance of $30k. So far I'm not panicking even though the market could correct after another $30k break today, but it is proof that markets sometimes do unexpected things.

BlackRock is the fundamental that may have contributed to the pumping of bitcoin price since last week, but I hope this isn't a trap that's just been in for a while. Of course I would expect a higher peak, say $35k - $40k if the trend continues.

4 to 8 years is a very long time and one will barely be able to hold for that long, considering there will be a lot of bear and bull cycles in between these years, it will be much more profitable if someone buys and sells at the perfect intervals between these bear and bull cycles instead of just holding whether the market is up and down. If I have bought Bitcoins when it was at around $16k or $17k and then it goes above $60k, I would probably sell as soon as I see the market coming down and wait for the next cycle.

That way, I will earn profits from the dips and will also profit if the market goes very high, by the time 8 years have passed, I will have earned way more than what I could earn if I only held for all these years. That is what I would do, I'm not sure about others though.

Until now there has been no major support that could create panic to buy, in 2021 a fantastic increase occurred because Elon musk actively tweeted about cryptocurrencies so that new users increased significantly, and until now there has been no major trigger that could make prices skyrocket.

I think the one aspect that is becoming clearer is that the further price moves above $30K, the less likely that price will retest lower levels below $20K. So far in the past 6 months Bitcoin has seen a very "orderly", somewhat predictable way in which it has risen. It hasn't been purely parabolic and has had significant healthy corrections along the way, at resistance levels followed by recovery at support levels. Very textbook.

For example we've already seen a correction from $25K to $20K, then $30K to $25K, so let's not be surprised to see $35K back to $30K and then continue on from there. Just like at $20K as well as $25K many were expecting a deeper correction, as is common with Bitcoin, but so far this hasn't been the case and there's not much reason to assume it's possible either after a sustained 6 month rally to the upside.

It is widely known that if a trader can indeed buy and sell an asset at the right time that they will make more money than an investor, however the question is can you do it? If you are one of the few people which can do this then by all means become a trader and make money this way, however the majority of the traders are unable to do this, and with this in mind it would be better for them to just become investors and hold their coins for many years.

The low support is being tested along the whole of 2023 but what makes it bullish is each test is higher then the last hence we do have a rising trend even if its not got everyone happy all the time.  The most reliable trends are not especially obvious but vary downwards, it still counts positively overall.
   All I'm looking for right at this moment is the performance of BTC over this month and the next vs steady averages like 50 day and 200 week.   If we maintain above both BTC price action is doing very well and we should not expect such massive variance as to go anywhere near the absolute lows.   If we lose the 50 day average and stay above 200 week then I'd say more middling performance but still imo bullish considering how negative and deep the pullback of 2022 progressed.

So far you do not look good with this thread.

But maybe you are right who knows.

There are many indicators that need attention, both on charts and candlesticks, but for all those who have a problem here when bitcoin will definitely go up and it will definitely go down and one way to see it is to see the green dot candle stick for recommendations to buy / long, red dots for recommendations to sell / short.

I think bitcoin and candlestick prices will never be accurate, yes maybe 10% accurate and 90% not accurate,
because volatility in the crypto market is different from the forex market, if you pay attention you can use technicals such as MA indicators,
or maybe use trendline support resistance and usually things it was successfully carried out by traders.

That may seem bad but when you think about it this may not be the case, if someone decided to enter and exit the market randomly then this means than on average they should win 50% of their trades and lose 50% as well, if whatever trading method they were using gave them a 10% edge then they will win 55% of their trades and lose 45%, and while this may not sound as impressive as the stats scammers claim to have, this is more than enough to generate profits if you know what you are doing.

Nobody can predict bitcoin or neither control the degradation in price and increment in price, its very obvious that the price of bitcoin is rational and never be stable or constant at any point in time,  what really determine the increment and decrement of bitcoin is the market demand and market supply, so I believe that bitcoin have to act in any capacity it wants because its been regulated or moved in price due what is been determined in the crypto market. As it stance bitcoin price can high tomorrow getting the next day the price destabilise, so it's the nature of crypto market.

Of course no one can predict the price movement, but there are probably levels that bitcoin will never return to again. Bitcoin has tested the 1k level several times before. In the last five years, bitcoin has tested 3k several times. This year it was 15k. Probably in a few years or maybe a year we will see 15k again.

Looking at the chart it sure seems like we're at a decision point.  The market can retest $20K or it can shoot up to $40K, but I don't think it sits where it is now for too long.  With all the ETF news being the big talk in the market, I think a move to $40K is more likely but we'll see.  The elephant in the room remains mtgox and I feel like distribution should come around the end of the year, so we'll have to see how that goes before really being able to make a good determination of where the market goes from $40K.

With how this have turned out in the last couple of days, we not going back to the lows!!

Why? Because we have the big boys coming to play and any weak hands wanting to sell now will just be handing over  their coins to the new whales in town and they are stocking up at the moment!

Imagine these guys just made an announcement of joint the crypto space and we all saw price jump from 25k to 30k and imagine  what will happen when they start  buying...Green days are ahead of us ,HODL!

I think finding those perfect intervals is the issue and many people fail to do that. I think that's the main reason why we are not seeing that happening all that frequently. I think the best thing to do in this case to make sure that it doesn't really get away from us too quickly.

I think long term holding is profitable in the sense that it could help us get better at results instead of trying to make is be a trader. I hope those people who plan up to become traders could buy at the bottom and sell later on, that's definitely a good thing. But that doesn't change the fact that it is not going to happen that easily. All in all I think it is going to be a big deal, and hope that it will be as easy as it gets for a long time. If we can arrange that, then we are going to be fine.

Yes, it's difficult especially BTC. Yes, as you mentioned above what really determines the rise and fall of bitcoin is the market demand and supply market and that shows in the daily transaction volume as well. I think it all comes back to each individual in terms of trading. But it's safe to stay in long-term HODL for sure.

While true, we must not forget that those people are also not keen on overpaying for their bitcoins, so if they can create some FUD to scare enough weak hands and get cheaper coins then this is something they will do as it plays on their favor, only once they are happy with their holdings and the amount of bitcoin they have bought then that is when they allow the price to go up, as in this way they can maximize the profits they can get out of their holdings.

A fairly nice and realistic analysis you made here. The market is not sitting at 30k for long, it will make an upward or downtrend decision. There is a nice inclination that the trend will be upward.
In this speculation board, someone made a hash analysis of bitcoin moving to 48k or down to 8k. The analysis wasn't nice. We know nothing is impossible, but this present market we witness cannot go to 8k.

I think low support levels and the possibility of a drop in Bitcoin price below $20k in the remainder of 2023 are unlikely to occur again. Especially now that Bitcoin is trading above $37k, and even has the potential for price increases to continue.

Yeah, I do agree, I'm not seeing a huge drop to $20k because it will be a disaster at this point. Last year, we can understand it as we are in the bear market. But now we are closing on the bearish sentiments and in the last couple of months, we have gain a lot, no more sideways pattern, but price increased as high as $39k.

And with that, December is just knocking on the corner, and if I will play guessing game, we might see the price going to $40k'ish or even higher. Usually December seems to be a good month to us and hopefully the pattern will continue.

I think the market will still have some corrections until the bull season really comes and even when the halving takes place there will still be corrections. Unlike many people who have the notion that when the halving event approaches, bitcoin will never decrease more. But I agree with you two, bitcoin falling below 20k$ will not happen, I think the lowest will be 30k$ if there is a big correction.

Many predictions suggest that bitcoin could reach the $40k mark before the end of the year, I also hope that will happen but the future is unpredictable and we will wait and see what happens.

It will be hard to believe that bitcoin price will drop below 20k again even not this year or in the
 next before halving , like now that we are expecting ETF approval next year early (but always we are expecting lol)
 and also there are big boys now that have their support aside from Binance not being dumped after the resignation
 of CZ , I believe that we are looking to stronger market till next year.

Those who have not been able to buy at low levels of bitcoin are sorry and have said that it is too late to buy bitcoin? but it is something that does not make any kind of sense, I think that there is a lot of opportunity now to buy and make a great profit for us, those who want to sell are welcome, only the smartest buy when the weakest sell, that's what it's all about This business, the one that is not prepared for something good, then it is not, but the support, or whatever you want to see? See, the important thing is that bitcoin is currently at less than $70k, that for me is enough to see it cheap.

I feel like it would not drop under 20k ever again in our entire history. I know this is a big thing to say, but it has seen under 20k during the last bear market barely, it has gone down to 15k, and that was it, and I think with a new all time high coming, and potentially seeing above 100k, even in a situation where bitcoin drops 80%, that could be over 20k. That would be the biggest peak of bear run, and we would still be over 20k, I think that's an important situation.

I hope that we could end up with a situation that has to be a bit more careful, and it needs to be something that needs to be a bit more careful, that would definitely lead to a level where it would be profitable for the long run. I know that we may not end up with something that will benefit everyone, but at the end of the day it is going to be just a situation where it could profit everyone. So, we should just ignore anything under 20k, and even under 30k may not be seen anytime soon, maybe ever.

Prices will not fall back to the $20K level for the rest of the year - I am very optimistic and confident to say that. No matter how much FUD there is to come - but the current positive trend seems very likely to be maintained until the end of the year. We've passed last year's low - so the hope is a major recovery and upside this year to be likely.

I can't completely rule out a correction to $30K if major FUD hits the market - but of course, this doesn't look certain to happen any time soon. I'd certainly be very surprised if $30K were to be hit before the end of the year because I'm basically expecting $40K to be hit.

For now and in the future - keep your optimism and hold on to your bitcoins without hesitation. We must be able to overcome obstacles and that volatility must be ignored if you have set up a long-term investment.

I basically not submissive to prediction rather I foresees the potentiality in the realms of Bitcoin because the nature of its volatility could be definitely or indefinite in its values.
I am Concious not to take further regrets waiting for the markets values to fall maybe to purchase with a specific amount just to obtains incredible values.
I buys and tends to hodl for long periods of time that is why I don't have to make a form of delay to accumulating more of Bitcoins in my trading wallets.

But OP talking table Investors to hodl and not to sell out on no matter what, that is depended if the Investors is determined for a long-term or a short-term investment otherwise hodling for long-term is best practices to higher profits in the space of Bitcoin investments.

You cant say that we wont really be able to touch up 20k considering that we arent that too far off with that level and we know that when it comes to probability then this market isnt something that you could
draw out some conclusions just because of some gut feeling or intuition because you do believe that it is really that taking as of this moment. Well, we do have our own views and perceptions on how this market moves or behaves. So it is really just that normal that people would be having different views and there's nothing wrong with that. It is really just that we shouldn't forget on how fast prices could go into certain points
on which we didnt even believe that it could reach that high or low.

If you do really believe that low support level could be tested on 2023 which is its almost ending then better yourself that getting prepared for you to be able to DCA but it seems
that we arent that not likely to go not unless if there would really be some huge issues or events that might crash the market and reach out those levels
but for now we arent seeing any.

This thread was created last June when bitcoin was worth $24k or more, but fortunately bitcoin has never touched below $24k since then even though it did drop to $24,900 in September. Considering that the support level being discussed is no longer relevant to the current conditions, I think this thread is worth locking instead of leaving it open. We are at $37,500 currently and it is highly unlikely that the $20k support will ever be tested again for the rest of the year.

I know anything is possible and nothing is certain because the bitcoin market is very volatile. It only takes big bad news to get a massive dump resulting in a price crash, but I wouldn't imagine that happening for the rest of 2023. The $40k resistance is likely expected to be tested instead of a severe dump to the $20k.

Big players will always come and go and it could be that 2024 will be the last investment opportunity of a lifetime and a good time to invest, but we also have to look at the fluctuations. If it falls again to 20-30% from the peak price towards the end of this year, you should take advantage of this second opportunity by adding to your position and holding on again.

I don't think 2024 will be the last chance for we to invest and make life changing money, Bitcoin will always be volatile, the price will keep rising and falling based on the different market season we'll be having which is the bear and bull market. The big players would only reduced the volatility but they can't stop it as they won't be able to control the market. Bitcoin market is a decentralized market and not controllable, the big players will try but won't succeed.

Bitcoin can't fall that much any more this year as the bears are losing control of the market and the bulls are taking control as we enter into the bullish time of the market. All investors have to take the opportunity and buy more Bitcoin before it's too late. The price is going to rise more and not fall. The festive period coming up might be the last time we see Bitcoin price fall for a very long time as after the year ends next year is Bitcoin halving and the price always rise.

I think a drop to 20k for bitcoin could still happen even though it has increased to 38k this month, there is still 1 month left before this year ends.
and more importantly, next year there are still several other issues before the bitcoin halving occurs.

The high volatility of Bitcoin really don't have to take anyone a surprise at a far range of fluctuations either appreciated or depreciated as long as long the digital coin could hover its trading rate values from the $0 and the $0.09 above til date. So as the volatility values of the coin rated $69K at 2021 in appreciations which has
also been depreciated to lower series of value rates and today it is around $37K yet 2021 history has not been surpassed.
Just as long as I am addicted to the Bitcoin volatility its value appreciations and depreciations can never have me a shock.
So @ OP, your optimistics to setup your Bitcoin portfolio at when the Bitcoin markets price is low may have you the tendencies of a long-term waiting.
You just don't hope on that to occur before you can set-up a purchasing budget. Just as we all who came into the system late are on regret why we didn't come earlier as the Bitcoin was introduced, this could also have you regreted in time after long-term waiting for a fail of the Coin before you could set-up a purchasing portfolio with a specific intension. If that doesn't happen in a close range of time, then it has proffered you wasted times waiting.

Of course having a planned accumulating Bitcoin budget is a good one especially when engaged on the long-term goals of investment because it the future would always have the best when you opts out of yesterday and todays fear or experiences.
However, I love to advice that a Bitcoin accumulating budgets shouldn't gaze at only when the price is gone low but some specific periods of schedules such as daily, weekly or monthly also as yearly. But this is only possible if the Investor is a stable income earner on a diversification off his long-term Bitcoin investments journey.

Avoid more worries by increasing your optimism about the potential for good bitcoin prices ahead of the halving. I have removed $20k from my list of risks to consider since bitcoin broke $38k, but of course I can still consider some corrections that make many traders panic like a drop below $35k or $32k.

I expect a gradual increase until $40k is reached before the end of the year. I have high optimism about it in December, but whatever happens then I won't try to ruin long-term investment plans. Be strong for whatever happens even if the price can correct below $32k or deeper. As I write, bitcoin price is around $37,100, it is good to expect it to test resistance above it again at $38k.

Let me say you just wrote this just for writing sake because even if you are not a good speculator you shouldn't have spate something as outrageous as that. Do you mean Bitcoin can still go down about half of its current price this year and about $300B market capital gone? That's insane, and if you had taken your time to carefully study the market chart, you would realize that it took Bitcoin 11 months of struggle to get to the current levels, and ever since the market breached above $20,000 early this year it has never hit the price again. The worse we saw was around $24,900 which I believe the market would never get to hit anymore till next year and even many years after because there will be a massive bull run between now and about 1.5 years to come. This will make sure that Bitcoin stays afloat.

And for the fact that when the coin rose in the past, there are some certain lower levels it never meets again, just as it tried so hard to sell but never met $10,000 anymore after the last halving that hit the ATH of about $69,000. Such might repeat itself again where the $20,000 would never be met again as Bitcoin has a very bright future and as it goes up with more liquidity being pumped into it, it would have locked some levels with that level ($20,000) included.

For more understanding, this is just like in the case of Gold, it will be very difficult for gold to reach $200 again.

Even still, I think that you should know that there's bound to be a black swan that will probably happen before you can finally dispel that worry because I am telling you right now that the said event hasn't happened yet and the halving hasn't arrived yet so the possibilities are endless but fear not as that event can be a good time to buy bitcoin because it's a prelude to whatever positive is happening in the bitcoin market is going to happen.