Bitcoin Approaching $10k, Will It Stop?

[cryptopost]

Bitcoin heavy uptrend continues highing the all-time high today $9950. It is approaching a very important psychological resistance, that is $10,000, but will it actually stop there? Should the correction be expected? How far?

These are the questions most would love to be answered, but there is no clear answer as this is a game of probabilities. The probability of the uptrend continuation remains very high and the very first resistance is actually almost $10k, and to be precise – $10036. This is a1527.2% Fibonacci level applied the corrective wave after the downtrend channel breakout on the 16th of September.

As per chart 427.2%, 527.2% and 1027.2% retracement levels were respected by the market while acting as support levels. This means that indicator is still valid and could be used to calculate the upside target.

There are 3 important resistance levels to watch.

First a strong psychological resistance at $10036, which corresponds to 1527.2% Fibonacci.

Second, the most important resistance level is at $10455, which corresponds to 16.27.2% and 227.2% Fibonacci applied to the corrective wave down through 5-12 November. At the same time, it is inline with the upper trendline of the ascending channel.

Finally, the third target is $10870, which corresponds to 1727.2% Fibonacci.

All in all, the trend remains bullish with the nearest support level being at $9500, where uptrend trendline was rejected. Break below $9500 could result in a corrective wave down to the key support at $7950. But while the price is above this support an uptrend continuation should be expected.

Trade Idea: https://www.tradingview.com/chart/BTCUSD/Yaw9jefP-Bitcoin-Approaching-10k-Will-It-Stop/

[teilwalL05]

It is a sure game of probabilities and the probability that it can go beyond the $9700 mark is very high for now because of the recent pumps we have seen a great Distance of how much the value got pump, but I really think there are a time that this pumping will stop and bitcoin will have a correction a fact that we should be alert about because it can go down anytime soon.

[Laland]

Why would it? Im sure it struggled this month but it took just a bit short time to recover and even more, overcome many haters saying it would crash. It would decrease but i dont think it will just stop.

[steveabrahams]

It will reach or even surpass $10,000 in the end of the year but it might stop when it hit $10,000, some people said there will be a correction when the price of bitcoin hit $10,000. I'm still not sure about that though but it's better to play safe here, bitcoin price is already so high right now.

[Qartersa]

I do not think there is any way stopping it! I just hope there will no longer be corrections that will involve a big depreciation in its current value. Nonetheless, I am all good with the fact that its price as of press time is really so much more than I expected. That being said, I am profiting well because of this trend. I just hope we continue to earn this way for a longer time, long enough to help us reach all our financial goals.

[Gotomoon]

Bitcoin approaching $10k that it might continues and cannot stop its bullish trend. Actually its hard to speculate because bitcoin is very active as always in the market. The best thing to do is to watch closely the price it might boom more than the expected price.

[Kriptex]

I do not think there is any way stopping it! I just hope there will no longer be corrections that will involve a big depreciation in its current value. Nonetheless, I am all good with the fact that its price as of press time is really so much more than I expected. That being said, I am profiting well because of this trend. I just hope we continue to earn this way for a longer time, long enough to help us reach all our financial goals.

With stop, he means temporary actions probably. We know bitcoin is not stoppable in any condition, but correction waves which will make price deflation in bitcoin is also ineavitable. We observed this many times this year in bitcoin prices.

[cryptopost]

The thing is, most people think that it should correct, at these times it usually a strong bullish trend... will likely to continue, 15k-30k who knows

[Herman Hesse]

I believe that the psychological resistance/barrier at 10000 USD, or any other such (in USD or otehr currency), is overestimated.

Majority of people don't even buy BTC in USD, but in their currency, so there are many different psychological barriers.

For example, few days ago, many buyers in Japan crossed 1 million yen barrier for 1 BTC without much problems.

For me, as European buyer, USD round numbers are also not so important but euro.... my 10000 EUR is cca 12000 USD..
Korean or chinese currency is also extremely important...

[thecodebear]

I expect another serious correction down to probably 7500 either just before hitting $10,000 or shortly afterwards. So I definitely think a correction is coming in December, probably early December. But the buy pressure is so strong now that this next crash will likely be very short lived just like the 2x cancellation crash earlier this month that I think lasted only 8 days from start of crash until breaking new ATHs again.

Of course long term $10k is just the beginning. I expect $15k by April at the latest, but with the current craziness hell it could hit $15k in February.

[Wipro]

I expect another serious correction down to probably 7500 either just before hitting $10,000 or shortly afterwards. So I definitely think a correction is coming in December, probably early December. But the buy pressure is so strong now that this next crash will likely be very short lived just like the 2x cancellation crash earlier this month that I think lasted only 8 days from start of crash until breaking new ATHs again.

Of course long term $10k is just the beginning. I expect $15k by April at the latest, but with the current craziness hell it could hit $15k in February.

There are many people expecting the correction when the time bitcoin move further in the chart. We are finding many threads also comes with the same kind of query about bitcoin is on 10k USD.
We find the hard fork last month but correction takes more than 3k down from the chart value that time. Now there is another discussion about the bitcoin diamond is on the way.

[gentlemand]

GDAX has been leading the run. And the sells have been piling up steadily in the order book towards 10,000. Order books are of course instantly changeable so don't mean much but I can see it being a point where buyers and sellers have a serious battle. It may stall and fall for quite some time.

I don't really care. It amazes me it got to this level so soon. It will again and then some.

[Aamir1]

It will never stop because it is the nature of Bitcoin. There are always pumps and dumps happening and when the price goes very high, we all know that it won't always stay there. It rather drops back to some percent or goes even higher. We have seen Bitcoin decreasing the way it is increasing these days. So we cannot expect it to keep growing all the time, and we should always be ready for a drop that can occur anytime soon. If any of us have bought Bitcoin before some time then i think it is a very good time for selling some of them and taking the profits while we can, though we know it will always recover eventually but still.

[Lmaooo]

There is no sign of slowing down for bitcoin right now. Bitcoin is on the way to setting the new record all-time high.

[shursight]

there is no way that it can drop now, and i will just explain it in just a paragraph:
Once that we break the new support-psychological-resistance, everybody is going to say; OH YES! BITCOIN TOUCHED TEN THOUSAND DOLLARS! Can you even imagine how many tv shows are going to talk about bitcoin if it really breaks that resistance? The hyping that it is going to receive is going to be huge, because everybody is going to say that we really did it.

I do not think that it will go back again, that was happening on the old times, maybe a lot of people are going to retire themselves from the market, but it will not affect anything, because more people will start to invest, and this would make a break-even on the price and it will go more up than what it decreased.

[richardsNY]

The thing is, most people think that it should correct, at these times it usually a strong bullish trend... will likely to continue, 15k-30k who knows

People look at how things were going back then, and based on that assume that it will correct in a similar fashion, but that might not be the case at all. At this point the market can literally go into any direction, and it makes sense all along. The only thing we can do is to either anticipate on a correction by securing profits, or to keep holding everything without selling a single satoshi. I prefer to go with the latter since I am confident that we will smash through the $10,000 level anyway. If it doesn't happen this week, or this year, it will happen next year. The market has gone up to such levels, that it doesn't really make much of a difference for me if we fall back to $6000-$7000 again.

[farwellbit]

I believe that the psychological resistance/barrier at 10000 USD, or any other such (in USD or otehr currency), is overestimated.

Majority of people don't even buy BTC in USD, but in their currency, so there are many different psychological barriers.

For example, few days ago, many buyers in Japan crossed 1 million yen barrier for 1 BTC without much problems.

For me, as European buyer, USD round numbers are also not so important but euro.... my 10000 EUR is cca 12000 USD..
Korean or chinese currency is also extremely important...

China Is out of race and the main thing is the profit and you will attain what you wish and for 12000$ you must wait for couple of weeks because now bitcoin is approximately at 10000$ and that will not take much time to reach at 12000 so be patient and still many people are waiting for crash to happen so that they can buy bitcoin to furnish their coming days and stay determined and wait for the right moment.

[DaMut]

the reason why Bitcoin making this kind of move today and lately due to stratey,
if you're looking at people comments and their strategy you will see that they're making a speculate about $10.000 target,
many people speculated that Bitcoin will reach $10.000 the end of this year or around that time,
but we're moving like crazy and breaking $11.000 level,
of course because of that many people will start to cut their profits from their holding.
they believe it will goes down after reaching or surpassing $10.000 level,
there'll be 2 possibilities that will happen :
1.Downward movement will continue until we're reaching $7000 more or less and stable
2.Flash Dump and then Moving upward,

usually the whales always make a quick reaction to this kind of move,
triggering the weak hands and then making a move.
it's not surprising if we're seeing a huge retrace to around $10.000 level tomorrow,
so set your strategy and goal.
but i believe and i hope it will not stop to this level,at least we still have a few weeks before the end of this year.

[Basmic]

It is a sure game of probabilities and the probability that it can go beyond the $9700 mark is very high for now because of the recent pumps we have seen a great Distance of how much the value got pump, but I really think there are a time that this pumping will stop and bitcoin will have a correction a fact that we should be alert about because it can go down anytime soon.

I am sure that he will go down. I don't believe in such a wild growth of popularity of bitcoin which pushed it to $ 11,000. It seems to me that the whales defeated the remnants of the coins and try to keep the price of 9000-10000 dollars. Then it will dump. It seems to me that by the end of this year bitcoin will pass $ 10,000.