$3k range the new $6k range?

[hahay]

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

This is my question so far, this is the same as prices stabilizing at $6k for a long time and now continuing at $3k, if true events will repeat then we will see prices continue to be low and it looks like this is a nightmare, but if this is a process for a bull run then it looks like it will be good and it is a beautiful dream. If indeed there are experts who say the market will continue to be destroyed, then I will be ready to sell it, but if the information just keeps floating, then I will still hold it and hope the market will recover.

[1714119078]

1714119078

[1714119078]

1714119078

[1714119078]

1714119078

[figmentofmyass]

It does resemble this but I always imagine we are when restricted in price, its set like a spring to release that range into moving in a new direction.

exactly! when the price is tightly ranging, i consider it to be "coiling" like a spring. the longer we spend ranging, the more explosive the subsequent breakout tends to be.

that's why the crash from $6k to $3k was so fast and severe. so many traders and investors had accumulated positions near the $6k bottom. once it broke, there was a massive rush for the exits.

[NJB18]

It's playing between $3600 to $4000 for weeks already. This time I am committed in joining this ride.

Do you think it will go down further? Do you think NASDAQ is serious on bitcoin this first quarter? 

[peter0425]

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

It is possible the price of bitcoin will remain at a price close to the current level for some time since there does not seem to be many reasons to make us think a recovery is possible during the next weeks or months, it is precisely for that reason that despite my belief in a recovery of bitcoin this seems like a good moment to try to look for altcoins that could outperform bitcoin during the next months.

It's possible if Bakkt will go live this January or February. But it looks like it will be delayed again. So let's assumed that we may see the price going around the $3K-$4K mark for quite sometime now. It's already good if we don't put too much hope for a bullrun, so that we won't be emotionally affected if you go our or regular and everyday trading activity.

[STT]

Short term its in quite a small box that it needs to break out of with 3750 the 50 day average overhead also

Slightly longer term with the yearly low and recent high  :



Its necessary to stay above 3660 to stay bullish within that recovery

[Ridwan Fauzi]

We have been suffering too much of this bear market, I think it's the right time for the bull to run. Though nobody knows when it will eventually going to occur this year, we just have to wait and see if there is a change of that stable price of $3k. It might break a new resistance, who knows. We will eventually see the bullish market soon.

Bull run is always awaited by all cryptocurrency investors, they are just bored with the price decline that always happens when prices will rise. I don't know what the cause is, but I still wait until the bull run really arrives. Just remember, the price of bitcoin at the beginning of 2017 was $900 and experienced a significant increase when at the end of that year it reached $ 20,000 and now in January the price of bitcoin is only $ 3500 I hope the increase will hap as in 2017.

[gabmen]

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

It is possible the price of bitcoin will remain at a price close to the current level for some time since there does not seem to be many reasons to make us think a recovery is possible during the next weeks or months, it is precisely for that reason that despite my belief in a recovery of bitcoin this seems like a good moment to try to look for altcoins that could outperform bitcoin during the next months.

It's possible if Bakkt will go live this January or February. But it looks like it will be delayed again. So let's assumed that we may see the price going around the $3K-$4K mark for quite sometime now. It's already good if we don't put too much hope for a bullrun, so that we won't be emotionally affected if you go our or regular and everyday trading activity.

Yeah keeping the price around the current state takes away most people's high expectation and makes you aware that things can go from bad to worse, hence you become a little bit more vigilant. I don't mind though if this goes on for a little while.

[Desscount]

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

it is difficult to shoot or predict the growth of bitcoin, market turmoil is more volatile. but I agree, bitcoin is more likely to stay in the 3k range while its growth does not last long, and returns to 3k. I just waited until the situation seemed to really grow, because I don't think there was any great growth this month. or the following month.

[el kaka22]

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

Apparently so. I have been waiting for the price to move towards 5 thousand dollars on this recent increase because of the upcoming deals but apparently the 3-4 thousand dollars range is so strict that it is constantly going higher and lower at the same levels.

I mean I understand having the trouble to move beyond 4 thousand dollars and having 4.2 thousand dollars as the max we reach because of the lack of volume however we have now tested those levels about 8 or 9 times if I counted correctly, I understand not breaking those levels once or twice but 8 or 9 times is just too much, we should have broken that already.

Good news is we do not drop back to 3.2-3.4 levels anymore, we move to 3.6 or so levels which is closer to the max and makes it easier for another try but I am sure if we try to break 4.2 couple more times we will eventually go beyond it.

[JohnBitCo]

Possibly yes but still it will depend on the market trend and only time can tell. We are stable on this range maybe we are preparing for a bullrun or just waiting for the market to go down and hit the bottom. I believe this is a different trend now and a more hopeful year for cryptocurrency to rise, let’s give at least this first quarter to confirm the trend.

Bitcoin is moving between support  3500$ and resistance 4200$ and no one knows where we are heading in the short term. IF bitcoin did not hold the support, bitcoin can test 3100$ again and it will not be good for the crypto world. I think bulls need to play their part and do not let market fall below.

[Harkorede]

Bitcoin is moving between support  3500$ and resistance 4200$ and no one knows where we are heading in the short term. IF bitcoin did not hold the support, bitcoin can test 3100$ again and it will not be good for the crypto world. I think bulls need to play their part and do not let market fall below.

Bitcoin has been around the 3000$ for somewhat far to long, Just like it was hanging around the ~ 6000$ between 3 and 4 quarter of 2018, It barely touched 4,000 few days but now back to ~3,700$. but in my opinion where it is headed from here could be depend on the next big major events that happens around bitcoin, If is a positive one then, things should change for good.

[Thirdspace]

yes, I think $3k is the new stable price range... for the next 2-3 months
unless something big happens and affects bitcoin market directly
oddly the recent hacked exchange cryptopia doesn't seem to have any effect on bitcoin price

[bintangkejoraku]

to do that bitcoin needs a very strong push, unfortunately at the moment bitcoin has lost a lot of energy to complete $ 6k. in my opinion bitcoin is able to break $ 6 in the middle of the year or when the ETF is approved.

[superstarbtc]

once the 3000 dollars death loss completed then we can see bitcoin bounce back previous levels of 6000 dollars or even 8000 dollars bitcoin price

[figmentofmyass]

yes, I think $3k is the new stable price range... for the next 2-3 months
unless something big happens and affects bitcoin market directly
oddly the recent hacked exchange cryptopia doesn't seem to have any effect on bitcoin price

cryptopia was tiny. they only did like $1M a day in volume in spite of listing so many markets. the hack was very small compared to others like coincheck or bitfinex. even the BTC-e shutdown in july 2017 barely affected price, so i would expect even less effect from cryptopia.

if a more noteworthy exchange (bitmex, binance, etc) got hacked for a larger amount, i'm sure the market would have dumped harder.

[ophyrim]

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

In all markets after a big bull run, a bearish run starts until the dip. It is a cycle. But always there must be a dip. İt is unrealistic to say that 3k was the dip but the probability is higher than 6k.

[Pursuer]

yes, I think $3k is the new stable price range... for the next 2-3 months
unless something big happens and affects bitcoin market directly
oddly the recent hacked exchange cryptopia doesn't seem to have any effect on bitcoin price

the problem with the dips like these is that they are not natural and it wasn't traders who sold bitcoin to reach here. it was whales manipulating and dumping coins on large scales to push the price down then others followed to prevent bigger losses so the dip become big (a 50% drop from the real bottom at $6k). and that means you can't really predict how long it can last because the decision is again up to those who did the dumping.

[Prettymie]

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

This is difficult to predict if the price will stay longer at $3k range as the market has not performing well since last year. Yeah we are all hoping for a better market as we need to increase the daily demand to make the price rise even in a smaller uptrend percent. So many possibilities that may happen this year and I'm optimistic that we can be profitable soon and we need patience for that.

[davit putra]

I think for the next few months the price of bitcoin will be able to grow with good value and the possibility of a 7k price will be achieved.

[WinslowIII]

The price sat for weeks and weeks in the $6ks, now the same in the $3ks, and it seems about time for the next big dumpity dump dump down into what I expect will be the mid $2ks.  All I can do is shake my head at those bitcoins I held since $400s, wtf can you do now - say fuck it and dump it or keep hodling like a stupid cunt?
This is tough seeing paper profits vanish, this has to be murder for the poor souls hodling coins bought over $10k.