Where is the bottom for BTC? 10K or 8K?

[notaek]

After moving up and down, it seems BTC remains in the range between 10K and 12K, is it really possoble for price to dip below 10K and reach to 8K in the next few weeks?

It might. Currently Bitcoin rests within the $10k support level for quite some time now, which is a good thing.

Original analysis about BTC from Kuang Ren:

Overall, price surged by a small range after breaking below MA 1Week after the expansion in volumes at high levels. Though price moved back to MA 1Week later, price kept going downwards. On a weekly basis, therefore, the overall bearish trend remains intact, making it unfavorable to buy at current level.

To be honest, crossing the $5k barrier is pretty bullish according to me. Bitcoin still hasn't reached that state where its price will sustain above $5k.
Considering the scaling issues, onset of LN and schnorr signatures are still needed to appear mainstream which might prove Bitcoin to be much worthy.

The price dropped again in the last 24 hours.

10k was already tested enough, but since it fell again, we are going to 4-5k.

Any evidence to back your fact up?

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[Altas]

Already it has reached $10000 several times, so all that we can think about further is the price to reach $8000. Right now the price is showing signs of gradual growth. Based on which I believe the price increase will continue with minor fluctuations leading it to cross $15000.

[Cacingkemi]

Nothing really prevents the price to dip below the $10,000 level again with how thin the markets are. With that in mind, people shouldn't put too much weight on another sub $10,000 dip, as long as the market jumps back up again. The only interesting part is when we will fall below the bottom we reached some days ago. It would be too easy to say that we will then head down further, but it may very well be a possibility. On the other hand, we can't really blame the market to be so soft and unwilling to climb up further with nothing interesting happening in the coming weeks/months. If the price happens to go down, then it's because of that, and not like other people think governments cracking down on crypto.

I think BTC will drop to 7K but I'm wrong,BTC will be around 9K-10K just can't go down and well right there are many obstacles around it between 10K.I think the government can't silence this price crypto has become a regular discourse at the beginning of the year which is often jammed,(kuang ren) can't be sure buy BTC now is the right time but I think this is the right time because the price will not fall more well below 10K.

[fabiorem]

Any evidence to back your fact up?

Masterluc said we would not go back to below 10k. And here we are, very near to cross it back to four digits.

So I think the market is now acting irrationally, and TA will be useless. Any level will be possible now.

[Enjel]

$8k - $9k is the general support area. Anything higher than that should be no worries whatsoever.

[Enjel]

Any evidence to back your fact up?

Masterluc said we would not go back to below 10k. And here we are, very near to cross it back to four digits.

So I think the market is now acting irrationally, and TA will be useless. Any level will be possible now.

He never said that though - if you read his post, he said that after the consolidation, it would not go below 10k again... however, he says that in the short-term, even 8k (absolute bottom) is possible, but unlikely.

However... after it's over, "4 digits will be seen again NOT so soon".


In the long run, $45k - $110k.

[talkbitcoin]

these round numbers like $10000, $1000, ... have always been like a big resistance for bitcoin. it always takes a lot of time to break them and when and if they are broken they never last long. just as we saw with the recent dip below $10k which only lasted 2 hours.

which is why i say $10k is the bottom for bitcoin and going below it, after testing it another time yesterday is impossible now and only if a horrible bad news comes out it can drop lower and in that case it will go much lower and will stay there. but with FUD it won't.

[alyssa85]

It's sitting at $10,063 at the moment. I think it might try to go beneath $10k, but there are lots of buys around $9000 which should bump the price back up.

I think $8000 is definitely the base line.

[vintages]

With the unstable price of bitcoin through out the years, it is nothing if it reaches below $10,000 or even $5000.But what I know quite well is that even if it dips that much, it will surely goes back up. Personally, from my prediction, if bitcoin will maintain a stable price, then it will be between $10,000- $15,000. And we might not see that price this year beginning, probably at the second quarter of the year.

[iqlimasyadiqa]

It's sitting at $10,063 at the moment. I think it might try to go beneath $10k, but there are lots of buys around $9000 which should bump the price back up.

I think $8000 is definitely the base line.

Bitcoin prices again experienced a fairly high correction, before I did not think it will happen again. But it is evident that almost all coins have decreased. Keep in mind everything that we should not do panic sell because it can even make the price of Bitcoin continues to decline. Believe that Bitcoin can get back on track, although we may be in the 9,000USD range and may even continue to decline. Optimistic that when we continue to use Bitcoin then Bitcoin will be more trusted and this will make Bitcoin price increase.

[TooDumbForBitcoin]

My entry point is 9,100 USD on bitfinex according to range 9,000 - 11,441 USD where we can see first sells during beginning of NOV-DEC rally

[BitcoinPC]

I have prediction about bitcoin that now bitcoin price will down more, nearly it will come at $8000 in the next month and in June bitcoin will try to pick up and it will be come at $25000 and it will be a highest price of bitcoin of 2018 and now it is my prediction and i follow it, to make profit from bitcoin, Because now bitcoin price is still down and it mean we have a chance to buy bitcoin.

[gabmen]

I have prediction about bitcoin that now bitcoin price will down more, nearly it will come at $8000 in the next month and in June bitcoin will try to pick up and it will be come at $25000 and it will be a highest price of bitcoin of 2018 and now it is my prediction and i follow it, to make profit from bitcoin, Because now bitcoin price is still down and it mean we have a chance to buy bitcoin.

Any basis for that or technical analysis? I think february would be the recovery month for btc. 8k is probably possible but it will be in a few days from now. If the support holds, then february would make a lot of holders happy.

[wildan88]

I have prediction about bitcoin that now bitcoin price will down more, nearly it will come at $8000 in the next month and in June bitcoin will try to pick up and it will be come at $25000 and it will be a highest price of bitcoin of 2018 and now it is my prediction and i follow it, to make profit from bitcoin, Because now bitcoin price is still down and it mean we have a chance to buy bitcoin.

Any basis for that or technical analysis? I think february would be the recovery month for btc. 8k is probably possible but it will be in a few days from now. If the support holds, then february would make a lot of holders happy.

its possible to down around $8k, but I think bitcoin support is already strong enough to survive around $10k. If the current goes down it is normal because I look at previous year prices bitcoin always falls at the beginning of the year, after a few months later the price will recover and rise even higher.