$5,000 is the number - so get used to it.

[Pipdips]

$5,000 will be the next support range and $8,500 will be the resistance, and no higher.
 
Welcome to the new Winter Time kiddies.  Better bundle up!!  

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[YuginKadoya]

It could be and it could be not, but if this is the safe level I am sure OK with it as long as it is not forever staying on that level, and we see that we are now in $8000 USD mark for many days now, the resistance can sure be seen because the price is not really moving, Well I am used to this kind of scenario the volatile thing is pretty normal for Bitcoin so I am not worrying so much, But in the midst of a bull market is pretty questionable, but what can I say we are entering the holiday season And I surely expect dump on the end of each year every time there is a holiday season.

[figmentofmyass]

$5,000 will be the next support range and $8,500 will be the resistance, and no higher.
 
Welcome to the new Winter Time kiddies.  Better bundle up!!  

the bears sure are coming out in numbers! and each bear target seems lower than the next. first $7k, then $6k, then $5k......

you got a chart for us, Pipdips? why $5000---horizontal support, fibonacci levels? i do see that april consolidation range of $5000-$5500 and that does seem like a likely support. but i'm not yet convinced we need to dip that far.

it looks like we're still testing the may/june consolidation range and haven't triggered a breakdown on the weekly bollinger bands. i've seen some pretty nasty fakeouts in bitcoin before. let's wait and see.

[rdluffy]

Yes, BTC can be at 5k USD again, but can be at 15k USD again too 

Of course we are here to "speculate", and there's no way to predict BTC correctly, all analysis and predictions are pure based on lucky, so let's see
I bet we are be at the 10k USD level for some time, not 5k USD

[buwaytress]

Aww, yeah, the bears are coming out again, I did miss you guys, why did it take so long for you to emerge? Surely the 10k dithering for weeks should have convinced you already =D

But anyway, yeah, let the chart sharing begin! And if this is the winter that will keep us cold for the next few months, I can't say I'm going to complain too much. Accumulation mode always on!

[Oceat]

I like your optimism, you already accepted the fate of Bitcoin by giving these numbers to be their final line.
It's been a while since we do witnessed the stable price of Bitcoin at $10k and now we are facing another unexpected price that would soon going to be a bearish.

I think there is something wrong in the market or is it just because almost everything is starting to fail. We still have 3 more months left before the 2020 hits maybe this is the right time to expect the bullrun.

[InvoKing]

Too optimistic just like the ol' kwuckduck!
Volatility, buying/selling shouldn't be a problem, besides, in November and December the price of Bitcoin increases usually so wear your hat and your gloves son, it is gonna be a wild winter

[Murat]

$5,000 will be the next support range and $8,500 will be the resistance, and no higher.

Get ready for the surprise, BTC market is always unpredictable. We may see $10000 again in 2 weeks. I hope this was the last shake from the bears otherwise we would see $6000 again. But the volatility of the Bitcoin market decreased a lot in recent months. So there is no chance for a crash like that. But yes some people want the price to go as low as $5000 these people sold their bags already and waiting to buy at cheap price again. But this won't happen this time because of no bcash drama this year. Though I won't take a look at price if I were investing for long term history says buying bitcoin in any day is profitable if you hold. But If you can buy at a cheap price always helps to keep the mind positive without tension. But still, hold and don't look back at price for few years buying right now still will be profitable.

[sunsilk]

$7996 just now and every price is of a possibility ever since. And if we'll hit $5000 again, so what? it's just another chance for everyone to take it while it's cheap but it won't take long that much.

We're already used to the volatility and surprises that bitcoin is bringing us so this isn't really a surprise anymore. We might see $5000 again or we might see the opposite movement of it later, I'll wait then.

[Febo]

$5,000 will be the next support range and $8,500 will be the resistance, and no higher.

What does it means next?  Tomorrow, next week, next month?  There is huge chance Bitcoin will be worth around $5000 at some point in future. What is magical of prediction and speculation is that you at least slightly time it out.

[exstasie]

The bears need to get through some major levels first.

There is a monthly support from June which hasn't been tested yet. On Coinbase, the level is $7,427. There is also the 61.8% retracement of the uptrend in the $7,200s. That's the first area to watch.

After that, we have the apex of last year's triangle around $6,500 and the 70.5% retracement level at $6,300. Then in the $5,400s we have weekly pivots from April and the 78.6% retracement level.

If the market busts through all these (and that's a big "if") then you'll get your $5K.

[STT]

the bears sure are coming out in numbers! and each bear target seems lower than the next. first $7k, then $6k, then $5k......

I'm more bullish for every bear that comes out of hibernation, somehow I think their timing is off at least in the northern hemisphere    more the merrier, we can have a teddy bears picnic with all the negative expectations laid out.
   If you asked me to place a bet on 5000 or 10000 for which price is next met, I'd rather bet on the higher price then the low.    We can easily revisit recent highs, nothing dramatic or any great chasm has opened up between that price and todays price, by BTC standards its just moved a little.   I believe there is far more debris and resistance between here and 5000 then just going back up, so on balance of probability I think its more likely to go up.    Whether it sticks higher or not is another matter but I think a retest is quite likely to occur.

[adaseb]

The most obvious strong support is $6400 or so, its basically the support from 2018 which should hold... at least temporarily.

And $8500 is minor resistance, the major resistance will be around $9000 which was support earlier this year. Most likely if on the weekly chart if it fails to close above $9000-$9100 then we will have 6 months or so of bear market or sideways markets like we did many times in the past like the 2014 peak or the 2017 peak. Just check the chart and look at the weekly candle bodies and candle wicks. I think this is what most traders are waiting for.

November should be an interesting month but it was usually a bullish month except for last year, wonder if it will be another bearish month like last year. Either way I think we will at least retest the $7500 area before higher.

[Harlot]

If we are talking about support and resistances here then I would beg to disagree with you since any trader who even have a drop of knowledge about TA knows that we are still on a support level if we dropped below 8,000$ already. I'm talking about the 7,900$ support level we are currently sitting on and it is still unclear if we are out of the woods yet since there is no signs that we will recover anytime soon. Even if we broke down the 7,900$ level we still have the next support level in 7,200$ and even that shows that we are still far away from the 5k level you are hoping for. I've seen members like you posting this kinds of predictions in the forum where they always pick a nice solid number without any kind of logical reasoning behind it, I don't know why you are doing that but I think it's mainly because you want to add some fuzz here.

[exstasie]

If you asked me to place a bet on 5000 or 10000 for which price is next met, I'd rather bet on the higher price then the low.    We can easily revisit recent highs, nothing dramatic or any great chasm has opened up between that price and todays price, by BTC standards its just moved a little.   I believe there is far more debris and resistance between here and 5000 then just going back up, so on balance of probability I think its more likely to go up.    Whether it sticks higher or not is another matter but I think a retest is quite likely to occur.

Same here. Retesting the yearly high is probably off the table for quite a while, but the descending triangle apex ~ $10K is another story. Retesting that level is highly likely no matter what. Considering the whole downtrend since June, it would actually be a pretty small bounce.

In contrast, there are several levels between here and $5,000 that I think bulls will defend.

[serjent05]

It is fine to see Bitcoin go down to $5000, we are still in an uptrend if we look back from January.

As what Bob Loukas stated

Chill bitcoin folks.
You want massive gains - it comes with powerful retracements.  Volatility doesn't discriminate.

It is ok for Bitcoin market to crash as long as the next phase would be a massive gain that can possibly break its previous ATH.

[figmentofmyass]

It is fine to see Bitcoin go down to $5000, we are still in an uptrend if we look back from January.

As what Bob Loukas stated

Chill bitcoin folks.
You want massive gains - it comes with powerful retracements.  Volatility doesn't discriminate.

how far is too far? at what point would you admit there are no more massive gains coming? $5k would wipe out 82.5% of this year's gains. would you wait until $3k to admit it's not just volatility but rather a bear market in play?

as a medium term bull, i don't think we want to see $5k.

the bears sure are coming out in numbers! and each bear target seems lower than the next. first $7k, then $6k, then $5k......

I'm more bullish for every bear that comes out of hibernation, somehow I think their timing is off at least in the northern hemisphere     more the merrier, we can have a teddy bears picnic with all the negative expectations laid out.

i even saw a $3k prediction today. people are getting more bearish by the minute it seems. i take it as a positive sign. people are always bearish at the bottom.

[Oilacris]

Show up some technicals on this one rather than saying without having any basis.I read up above theres no significant support on 5k levels.

I'm already get used to when we do speak on bitcoins price.Im aint surprise that it can swing up 30-50% in a matter of a day or a two.
If it dips then you should accumulate and if it pumps then sell off for profits.Rinse and repeat then make some money. 

[serjent05]

 
at what point would you admit there are no more massive gains coming? $5k would wipe out 82.5% of this year's gains. would you wait until $3k to admit it's not just volatility but rather a bear market in play?

Volatility exist in both bear market and bull market so there is no point of arguing here, I do agree that the current market situation is turning to bearish or probably hanging by a thread since we are currently on a sideway for some days now.

as a medium term bull, i don't think we want to see $5k.

Same here, 5k somehow gives a sign of a colder winter than last year.  But I believe with the current support level we are far from it somehow.

i even saw a $3k prediction today. people are getting more bearish by the minute it seems. i take it as a positive sign. people are always bearish at the bottom.

Or people just wanted to ride on what is the current sentiment and put more on it.  See how the bullish "prophet" are quiet now

[dragonvslinux]

The bears need to get through some major levels first.

There is a monthly support from June which hasn't been tested yet. On Coinbase, the level is $7,427. There is also the 61.8% retracement of the uptrend in the $7,200s. That's the first area to watch.

After that, we have the apex of last year's triangle around $6,500 and the 70.5% retracement level at $6,300. Then in the $5,400s we have weekly pivots from April and the 78.6% retracement level.

If the market busts through all these (and that's a big "if") then you'll get your $5K.

I believe you, but I want to see a chart of these levels. I'm too lazy to draw them myself. These replacements sound like tasty discounts to me.

Why are we not speculating on the $6k level first? Did we over speculate on this level last year too much already? How boring.

Volume profile says that level is "well important". Even if it completely disregarded this relevance back in May when it blasted through it in 2 days 

Maybe you lot have a point.