Aren't we headed towards getting a 10k (or maybe higher) shot again?

[dark08]

Based on the current price of bitcoin I think its become weaker so I expect a drop to $8700 to $8500 which is a golder ratio 0.618 on 4hr timeframe higher to lower candle if you plot the fibonacci.
But its too early to predict what will happen to bitcoin before and after the end of this year, I will be happy if bitcoin will be back to $15k level.

[target]

Based on the current price of bitcoin I think its become weaker so I expect a drop to $8700 to $8500 which is a golder ratio 0.618 on 4hr timeframe higher to lower candle if you plot the fibonacci.
But its too early to predict what will happen to bitcoin before and after the end of this year, I will be happy if bitcoin will be back to $15k level.

It could be on that price range of days/weeks if it breaks the support in 8700 before going up again and I'm just speculating this thru the RSI.
Investors who were just getting into bitcoin because of Xi Jinping could panic by now and if they sell, that's when it could break. I guess it should happen before BTC can move up to $10K.  Not a year to expect the price to reach even half of the ATH.

[ethereumhunter]

Based on the current price of bitcoin I think its become weaker so I expect a drop to $8700 to $8500 which is a golder ratio 0.618 on 4hr timeframe higher to lower candle if you plot the fibonacci.
But its too early to predict what will happen to bitcoin before and after the end of this year, I will be happy if bitcoin will be back to $15k level.

It will happen, we don't have to worry. Meanwhile, I think bitcoin will make another adjustment to the price, so maybe it will get down at the weekend, and it will back to increase again in the next weeks. Usually, that is what happens if bitcoin price is at the weekend, but that will not always occur to bitcoin, especially if there is a good news release, and that will push the price to back to the higher rate. So we need to prepare this time, don't miss the chance to buy another bitcoin if you want to buy it at a low price.

[Lucius]

Still 188 days until the halving. After that we will see a new ATH between $50k-$70k. Spike could go as insane as $250k so fasten your seatbelts.
My estimate is an ATH in about 250 days....

New ATH only 2 months after halving? Possible, but still unlikely if we take the 2016 halving as an example. It takes 1.5 years from that halving to 2017 December $20k, and I doubt that things will develop faster after the next halving happens (May 2020). All this is based on the assumption that history will repeat itself, but it should not be taken for granted.

Regarding OP, the current drop can be just another one bull trap in a row. These days price does not stay too long on the same level, and after a few bull attempts to reach $10k (I think $9700 was the closest), it was expected that things would go in the other direction again. Game of buying cheap and selling at a higher price is never-ending.

[BChydro]

It's November and based on my calculations, BTC had always risen upwards during the last 2 months of any year. What do you think about this?

The market went down almost 5% today and it is difficult to understand how the market will react all the time, i did not expect the market to go down like this but the market has its own way and no technical analysis can predict these movements, i thought the market will rise in the next two months and would have a correction after January but who knows we might see a rally after this correction.

[Febo]

It's November and based on my calculations, BTC had always risen upwards during the last 2 months of any year. What do you think about this?

The market went down almost 5% today and it is difficult to understand how the market will react all the time, i did not expect the market to go down like this but the market has its own way and no technical analysis can predict these movements, i thought the market will rise in the next two months and would have a correction after January but who knows we might see a rally after this correction.

Uh yes. I just noticed. Quite nice drop. We are moving further away from the $10k promised by OP. HE was drinking to much of hopium.

[justdimin]

Indicators do not have to be complicated and if you do not understand them you don't have to try to read and understand them because they are confusing. What you need to know is that bitcoin used to do this one thing and when that thing happened the price went up, now it looks like it is doing the same thing and it could then go up once more if it reacts the same way.

Now, that doesn't mean everything that thing happens price goes up, there is no correlation or a must or anything that forces the price to do it every time but it is just a guess that whenever that thing happens it goes up so it could go up again, it is just a prediction, a guess but at least the OP that wrote this gave a reason for why he thinks it could instead of saying he just "feels like it" instead.

[exstasie]

Then the halving might already be priced in. Plus if that's what the plebs are expecting, the whalecumulators might play themselves against it, and profit.

Distribution before the halving would be expected though. That's exactly what happened in 2016. Whales sold into the hype in June, a month before the July halving, then the market crashed 40% over the next couple months.

[bitbunnny]

It's November and based on my calculations, BTC had always risen upwards during the last 2 months of any year. What do you think about this?

The market went down almost 5% today and it is difficult to understand how the market will react all the time, i did not expect the market to go down like this but the market has its own way and no technical analysis can predict these movements, i thought the market will rise in the next two months and would have a correction after January but who knows we might see a rally after this correction.

Although some think that price is preductible in the last two months of the year, every year, that is not true.  Techical analysis is not always precise amd I don't think we can conclude that price will rise. Maybe that is a wishful thinking according  to this time of year but definetely isn't something that we can base our decisions on.

[Oceat]

Based on the current price of bitcoin I think its become weaker so I expect a drop to $8700 to $8500 which is a golder ratio 0.618 on 4hr timeframe higher to lower candle if you plot the fibonacci.
But its too early to predict what will happen to bitcoin before and after the end of this year, I will be happy if bitcoin will be back to $15k level.

It could be on that price range of days/weeks if it breaks the support in 8700 before going up again and I'm just speculating this thru the RSI.
Investors who were just getting into bitcoin because of Xi Jinping could panic by now and if they sell, that's when it could break. I guess it should happen before BTC can move up to $10K.  Not a year to expect the price to reach even half of the ATH.

If the week volume will not going to recover yet then we might still see another drop of the price. We can't expect a price heading north yet since the market is not yet ready for a price jump.
Whatever the FUD they spread, a real investor will never dump because they are scared of losing. Dumping at this current price is a big mistake. Let the whales turn the table and consider this as a normal results of crypto market.

[Slow death]

honestly, i think that in the coming months until april next year the price will fluctuate between $7200 to $10300 and in that price range i mentioned it will fluctuate the price will be in the $8000 zone. It's good to be optimistic in this market, but we must always have a lot of caution and don't put exaggerated optimistic

[1Referee]

It's good to be optimistic in this market, but we must always have a lot of caution and don't put exaggerated optimistic

It's impossible to not have people be too optimistic, mainly so with how crypto influencers on social media are bullish regardless of the price. It doesn't matter if the price is $9000 today and $1000 tomorrow, the same bullish predictions are made where these influencers pull out every possible metric to convince noobs of their research and whatnot.

Influencers notice from their statistics that a continuous bullish narrative generates far more views and clicks. People are generally long because they wait for $100,000 to become rich, which means that they have no interest in bearish content. It's even like that on Bitcointalk where a realistic not so bullish outlook will likely result in users to call you a troll or a fud spreader.

[karanggatak]

yes I think the current value of bitcoin is quite stable at $ 8000 - $ 9000. and I'm sure in a few months bitcoin will be bullish. because in the next year a lot of positive news will push bitcoin to the moon. like the news of bitcoin halving and the increasing number of countries that support cryptocurrency and blockchain will make bitcoin more expensive. I am optimistic that in 2020 the price of bitcoin can reach $ 25,000.

[pooya87]

once again the price didn't rise in timely fashion so the weak hand traders pushed their big red sell button for no reason. and once again we saw the wedge become squeezed more into a smaller one with this round too. at this point the chance of seeing that big green jump is higher, the only matter remaining is "when" will it start.

as for halving that was mentioned i don't think any of this has anything to do with halving since in all previous times the effects didn't start this soon. although i agree that it is a big fundamental.

[hatshepsut93]

Imo halvening is the biggest fundamental right now, this time people won't wait for months after it to start buying[/b], everyone knows that halvenings preceded bull runs in the past, so everyone is super ready to buy as soon as the price starts taking off. If you look at this whole year's chart, there's very little slow and steady growth, most price increases were very explosive. This trend will probably continue, so we can easily go to $13-14k in the next jump.

Then the halving might already be priced in. Plus if that's what the plebs are expecting, the whalecumulators might play themselves against it, and profit.

Of course it's priced in, we wouldn't see this year's big price action if not for the upcoming halvening, but it's not fully priced in, some investors still doubt, or wait for better opportunities to buy. And whales will indeed dump when the price spikes, and it's good because it corrects the market and prevents bubbles. But they aren't going to dump it hard enough to throw Bitcoin off its course, that would just mean a loss to them, because some other whales will pick it back up.

[Wysi]

yes I think the current value of bitcoin is quite stable at $ 8000 - $ 9000. and I'm sure in a few months bitcoin will be bullish. because in the next year a lot of positive news will push bitcoin to the moon. like the news of bitcoin halving and the increasing number of countries that support cryptocurrency and blockchain will make bitcoin more expensive. I am optimistic that in 2020 the price of bitcoin can reach $ 25,000.

There has been a slight dip in the value now when it was least expected which makes it really difficult to make any predictions as the market is still too wild and yes I respect your opinion as your prediction is pretty much possible if everything goes as expected but I would still be prepared for both bullish and bearish market as well.

[wajik-tempe]

Btc has failed defend it's support at 9k and it's falling down to 8k. It's already sideways for more than a week from 9.2k and i'm sure it will make a movement up or down in near future, and it's actually happened.
Price crashed because no good news around and it will be struggling to reach 9k again, BTC need more good news to hook investors to buy again. Price so agile because people are not want to invest in a long run and just trade with quick profits in every trade

[gabbie2010]

I've witnessed that the wicks (abnormal buys/sells) have already taken place in the form of sell (see 1H chart on Binance) and the flag is still not broken towards any side. What do you believe this to be? A bull flag that's yet to shoot BTC to a much higher price than even 10k?

In my opinion we're carving out a bull flag, yes:

It looks like the daily is still building out this bull flag. My overall bias is bullish but it's difficult to rule out something like this:

I'm tempering my expectations though. For the next couple months I'd be surprised if we went much past the $11,000s. I think we're in a similar range to early 2016. A long slow sideways with an upward bias that will eventually bust out with authority towards $20K and beyond.

Your Technical analysis is on point , this is a perfect bullish flag  I hope the price doesn't defy it, I also hope the support at $8800 rejects the price thus we might have a bullish ride till possibly $11K, it very obvious that the price is experiencing a pullback to the nearest strongest support although more support at $7600 zone I am sure the present support would hold the price.

[error08]

The dip pretty much predicted, just buy the dip.
It looks like the traders are playing the same thing as usual but give us a chance to pile up more Sats.
Probably some entities trying to intrigue sell-off events to buy at a cheaper price, but don't get shaken out because the chart indicates bitcoin heading to $10K.




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[bitzizzix]

There is still a possibility that bitcoin will rise again and maybe this is the last decline and will increase again at the end of the year.
and now the price of bitcoin is around $ 8,800 and only a slight decrease from $ 9,000, and the current decline actually provides an opportunity to buy bitcoin, and there is a possibility that there will be a slight decrease again and if that happens I will take advantage to make a purchase before bitcoin increases again .