Will Bitcoin will correct back under $10k or are 4 digits gone for good?

[thecodebear]

What do you think? We saw a little bit of a correction for like a day back to 10300s. Do you think there will be a bigger correction lower than that, perhaps back into the 9000s in the near future? Or do you think Bitcoin has left 4 digits behind for good? Right now it's back right at $11,000.

[gentlemand]

It's pretty much a cast iron rule that as soon as anyone says X price is gone for good X price returns near immediately and does a jig on your face.

Four figures is only a small percentage away. I fully expect it at some point and it needn't be anything dramatic, just chop. All of these breezes through prices previously thought to be massive barriers mean it can breeze back to them without much going on as well.

[LFC_Bitcoin]

We’re currently over $11,000. I think it’s very possible that we could fall as low as the $8,000’s. I don't think we’ll go any lower than that though. What we’re witnessing at the moment is totally normal, it’s what happens in each bitcoin cycle. Following a long crypto winter we are only 12 months from the next block reward halving.

I expect the price to gradually rise now until next May before moon launch in 2021.

[thecodebear]

It's pretty much a cast iron rule that as soon as anyone says X price is gone for good X price returns near immediately and does a jig on your face.

Four figures is only a small percentage away. I fully expect it at some point and it needn't be anything dramatic, just chop. All of these breezes through prices previously thought to be massive barriers mean it can breeze back to them without much going on as well.

I agree I think we'll see 9000s again for at least a brief period in the coming days. I was just surprised its already back up to $11k a day after hitting it and falling to $10,300. I expected a deeper immediate correction, I guess similar to what happened the first time it broke $10k in Nov '17, it broke 10k, immediately went over 11k, just like this time, then spent most of the next two days under 10k before moving up again. I've got my short term trades all set from high 9000s to mid 10000s haha so I'm hoping for a correction! ;p

[hatshepsut93]

If we'll stop rising now, at $11,000, then there's a high probability that we will dip below 5 digits temporarily, but the higher we go, the lower the probability of this happening - at $13,000 tip it's much less likely to dip below 5 digits. If you look at the past bull markets, they were always full of tips and dips, but the dips generally don't go below the starting point, so the price increases in the longer run.
The bigger question is whether 4 digits will be gone forever, meaning the bottom of next bear market will be in 5 digits territory - but it's too early to say anything for sure yet.

[thecodebear]

If we'll stop rising now, at $11,000, then there's a high probability that we will dip below 5 digits temporarily, but the higher we go, the lower the probability of this happening - at $13,000 tip it's much less likely to dip below 5 digits. If you look at the past bull markets, they were always full of tips and dips, but the dips generally don't go below the starting point, so the price increases in the longer run.
The bigger question is whether 4 digits will be gone forever, meaning the bottom of next bear market will be in 5 digits territory - but it's too early to say anything for sure yet.

I mean i feel that is incredibly obvious. I personally would expect the next bottom to be more like 30k (of course depends on how high this bull market goes). But I think lower than high of the previous market cycle (20k) as the next bottom is very unlikely, let alone half that value. 4 digits will be gone forever in the near-term, just a question of whether it is gone forever now (i don't think so) or we'll see if for the last time in the weeks to come, or perhaps a bit longer if there is a major correction later this summer.

[exstasie]

I really doubt 4-digits are gone for good. Bitcoin likes to go further than everyone expects, in both directions.

At some point this is going to see a harsh ~40% correction, which is very typical of Bitcoin bull markets. So it's all a question of where the top of this bull wave is.

From here, I'd say an eventual revisit of $6,600 is still possible after a lengthy correction. On the other hand, if this tops closer to $13K, then I think the best bears can hope for is a retest of $7,500. No matter what, I don't think sub-$10K is off the table yet.

[rdluffy]

As I said on another threads, I was expecting a correction as soon BTC hit 10k, but I was wrong, so I have to think and analyze better to adjust my plan
I have to say it's very good and I'm happy I didn't sell any coin, soon or later a correction will come, but at this point I don't know if will be below 10k

[pixie85]

My gut tells me that we will see sub ten thousand again very soon because there was no big correction on the way up but there were no big corrections when bitcoin was moving above 10 thousand in 2017. The first correction was at 17 thousand and it was very weak and shallow. Never underestimate the FOMO. Now that we are above 10 we will likely be drawn to the next big round number of 20.

[thecodebear]

My gut tells me that we will see sub ten thousand again very soon because there was no big correction on the way up but there were no big corrections when bitcoin was moving above 10 thousand in 2017. The first correction was at 17 thousand and it was very weak and shallow. Never underestimate the FOMO. Now that we are above 10 we will likely be drawn to the next big round number of 20.

Well I mean there was an immediate correction. End of nov 2017 it broke 10k, immediately went to 11,400, then corrected back to 8000s over the next 48 hours, then moved back up to 11000 and beyond.

Can't really compare the path bitcoin took after breaking 10k in 2017 to now. Completely different situations. That was in the final stages of the end-of-bull-run mania phase. Now we are early on in the bull market, barely even at 50% of the previous peak. Things don't really start to heat up until the peak of the last bull run gets passed. Bitcoin is in build up mode now, now everyone pile in during mass FOMO stage. This is probably mostly institutional investors getting in early before the real run-up gets going.

[klaaas]

If we did know that allot of people would had hold at 10k. On the moment its hard to predict where a dip would start and how deep it will go.

[STT]

I imagine it will correct back at least to the bottom of a upward channel which is 9300 area and rising.   Market open after a bullish weekend has Tokyo futures and other traded markets opening with some selling I think



The mark for proper sell from here would be around 10700, thats the line of the channel which has been some support very recently

[exstasie]

I imagine it will correct back at least to the bottom of a upward channel which is 9300 area and rising.   Market open after a bullish weekend has Tokyo futures and other traded markets opening with some selling I think

The mark for proper sell from here would be around 10700, thats the line of the channel which has been some support very recently

That was some strong wicking off $10,750 just now. We're back at $10,900 with the 15-min candle closing as a dragonfly/hammer doji. There's still signs of buyers in this area.

I'm not expecting another 15-20% correction from here. Higher first. I've still got my sights on a break of $12K.

[carlfebz2]

What do you think? We saw a little bit of a correction for like a day back to 10300s. Do you think there will be a bigger correction lower than that, perhaps back into the 9000s in the near future? Or do you think Bitcoin has left 4 digits behind for good? Right now it's back right at $11,000.

Nah everything is possible with bitcoin and we cant just let the price having a continuous uprising movement which there would always be a correction and that indicates a healthy market.Seeing a fast pace price increase might signify either a bubble or pure manipulation.So if you are either a hodler or a trader then you should be wise on how you do able to let yourself to play in the market.

[illyiller]

What do you think? We saw a little bit of a correction for like a day back to 10300s. Do you think there will be a bigger correction lower than that, perhaps back into the 9000s in the near future? Or do you think Bitcoin has left 4 digits behind for good? Right now it's back right at $11,000.

Even if this goes to $15,000 before really pulling back I still think we'll see below $10K again. Bitcoin likes to go up ridiculously hard and then down the same exact way.

I doubt we'll see below $6,000 again though. Those levels might be history, although bears will surely be aiming for them once we finally start having a real correction.

[UnDerDoG81]

are 4 digits gone for good?

No

[Barbut]

Who expect correction can short, who don`t will hold, very simple. It`s easier to talk about it than to do something when you know that a wrong move can cost you a lot of money, or bitcoins.
I don`t think that 4 digits are gone for good, there is a chance for the price to go back under $10k again, but I will not short bitcoin these days. I will think about buying more if the price drops.

[pooya87]

since $9k range isn't that far anyways then it is easily possible to see it again but technically speaking there is no reason for it to happen anymore as we had the rise to $11k+ and the correction of that which brought the price back to $10k bottom and started the slow accumulation for the next leg up again.
the only case where a drop is possible is when some kind of panic happens with some whales playing with the market temporarily kicking the price down before it bounces back up.
as a trader i wouldn't count on it that much but if you want you can always roll the dice and place buy order(s) in that range.

[gentlemand]

since $9k range isn't that far anyways then it is easily possible to see it again but technically speaking there is no reason for it to happen anymore as we had the rise to $11k+ and the correction of that which brought the price back to $10k bottom and started the slow accumulation for the next leg up again.

It's been five figures for all of three days.

I'd be fully confident it wasn't going to head back there after a minimum of one year above it and in the meantime I'd want to see prices heading well into mid five figures to believe it was truly unlikely any more.

The only one I'm 100% sure of is that three figures is history for good.

[jossiel]

I'd give it time to see first it go back to $9,000 before thinking that there's a big possibility that we may see lows again to 4 digits.

The only one I'm 100% sure of is that three figures is history for good.

We'll never get back to three figures and soon we may include 4 digits is going to be the same.