BTC - Pump or Dump

[weidex]

As the volume of BTC is going down the price has decreased too. Do you think it just makes a step back before the pump to 15k+ or it will follow the trend to 5-6k?

[1715111273]

1715111273

[Bttzed03]

I personally thought it would immediately bounce off $10K but it broke the support instead. It looks like like it found new support at around $9,800 but I don't know if it can hold. I'll just watch for now.

[NeuroticFish]

As the volume of BTC is going down the price has decreased too. Do you think it just makes a step back before the pump to 15k+ or it will follow the trend to 5-6k?

First, I'd move this to Bitcoin speculation thread, since it's not about altcoins.

Second, although Bitcoin should continue to rise a lot, there's a lot of manipulation and it's hard to predict what's going to happen next.
After such a growth in the last months, a correction is possible. And a correction would come with big variations until it would stabilize.

On the other hand an upward pressure is still there and the decrease of volumes could tell that people don't jump to sell (but also don't buy much either).
Or maybe it's just wishful thinking 

[CVD]

It is interesting that first bitcoin prediction was almost to 8k in the coming weeks, and the , chart moved clearly along the given lines. I hope it doesn’t fall below. Falling down now is simply not logical, there is nothing for Bitcoin to do there.

[Convery]

A good buy zone is around 9k level. If we break, then next stop is around 6k level and I can't even imagine what would happen if we broke through this level (new ATL?)  .

[WalkerIVIV]

As the volume of BTC is going down the price has decreased too. Do you think it just makes a step back before the pump to 15k+ or it will follow the trend to 5-6k?

It just make a little correction when bitcoin was facing a bearish trend and there was a decrease on its volume trade and that means some people have already moved their funds to the stock market and i thought that crypto market has a very strong correlation with the crypto market.

[omonuyak]

I personally thought it would immediately bounce off $10K but it broke the support instead. It looks like like it found new support at around $9,800 but I don't know if it can hold. I'll just watch for now.

$10,000 has not been the support or resistance level and it is just an assumption that people used $10,000 as a point for market decision. The support level according to my trendline on the weekly chart is around $9804 and when bitcoin cross $10,000 my mind went immediately to $9800 or $9700 bance off.

[MonsterV]

A good buy zone is around 9k level. If we break, then next stop is around 6k level and I can't even imagine what would happen if we broke through this level (new ATL?)  .

True, according to the TA I did, the closest support line was at the 9K price, which is clear I hope it will bounce back towards 15K. But if the price is broken I don't need to worry, meaning I can still buy it for lower prices before Halving next year.

[jazmuzika217]

For me I will follow the trend the road to 5k-6k value. I already take a risk so I will continue to hold and invest in bitcoin. Because I believe that it can be have more price improvement for the following weeks or months. Nothing to be worry because bitcoin already prove it's power so keep calm just hold and wait for your success.

[freedomgo]

Based on my observation this year, after a big pump there's a big correction to follow and then bounce back hard.
So I will follow the trend and I like what's happening now and I think that $15, 000 is the minimum target the moment it will start to bounce again.

[Jpti]

The last week was much good days for bitcoin as it peaked at over $13000 after a long time in pain. But again this coin has started declining in price again, and it now sits at over $9000. I think this coin will further plunge in price dropping to around $6000 before again going up. This coin will again reach $20000 in this year.

[tsaroz]

As the volume of BTC is going down the price has decreased too. Do you think it just makes a step back before the pump to 15k+ or it will follow the trend to 5-6k?

In my opinion, the price won't go below $6K this time. The price seems to be stabilizing around 10K and may get as low as 8K but won't go any lower. It could be taken as a preparation of another bull run. Any price below 10K would be a buy and any above 12K shouuld be sell.

[target]

It could bounce up again but it ain't done yet. I see its possible to drop to about $8500 to test the support. Too risky to trade when the indicators says the opposite of what could happen. You'd be happy to hold you USD while the trend goes up and wait for another dip as the price chase up.

As the volume of BTC is going down the price has decreased too. Do you think it just makes a step back before the pump to 15k+ or it will follow the trend to 5-6k?

In my opinion, the price won't go below $6K this time. The price seems to be stabilizing around 10K and may get as low as 8K but won't go any lower. It could be taken as a preparation of another bull run. Any price below 10K would be a buy and any above 12K shouuld be sell.

I actually think it could when you look at the indicators, RSI doesn't always present the correct data but justt to make sure, I'd wait to see near 30 in daily.

[o.ogurlu]

I'm not sure, but I don't think Bitcoin will fall back to around $ 6,000 right now. I think Bitcoin will start to rise again after the price has dropped a little more.

[puertorikosena]

Hard to say. At the moment, the trend is still up. Perhaps in two or three days the situation will change and Bitcoin will really go into a bear market. You need to carefully monitor what is happening and make trading decisions.

[corrado25]

now many people are selling for 13-14k. so people now have dollars in their hands. I do not think that whales are profitable to lower the price considerably so that people are re-buying. For that, then the same people pull on top and give them again to earn. Then, many people took positions in the long ago, the market went against them

[hohuan101]

I think it is an adjustment. BTC will pump to 15k $. Market signals are moving very well

[bittraffic]

Well. It gets better when you at dips. BTC is going to rise no matter what so if you don't mind seeing the price going down for now, it will be worth the wait when finally it bounces back. If the price can really dip to $6000, it wise to buy at that price as well. But no one can be sure if the price goes to that level with just this dump when we all see the volume is just few.

[Muzika]

As the volume of BTC is going down the price has decreased too. Do you think it just makes a step back before the pump to 15k+ or it will follow the trend to 5-6k?

Stop speculating about the price, bitcoin price has always surprise in the market. Do not look on the negative side if the price drops that is normal in the market that the price goes up and downs, and also one of the normal thing in the market is there are lots of people creating thread once the price moves in any direction do not be like those people.

[Icologies]

As the volume of BTC is going down the price has decreased too. Do you think it just makes a step back before the pump to 15k+ or it will follow the trend to 5-6k?

it is like the law in the market that applies when the volume of BTC drops, the price of some other altcoins also falls, not all of them fall but most follow the price of bitcoin. bitcoin can be said to be the king of all altcoins so it is only natural that this happens. I hope BTC will be back soon in its heyday.