Bitcoin support levels

[exstasie]

It hit $6600 twice. On 25th November and 18th December. And in both cases it bounced back. Now we are waiting what will happen third time.

Well, we got the double bottom attempt I was expecting. The daily candles look pretty ugly with that $300 dump today, but we're still just chopping inside the same range from the past 2 weeks. I'm not confident in a revisit to the December lows yet.

If we do go back there, I don't expect a triple bottom. Those are extremely rare. I'd be looking closer to $6K or $5,400 for support.

[1714154987]

1714154987

[1714154987]

1714154987

[1714154987]

1714154987

[1714154987]

1714154987

[Savemore]

It hit $6600 twice. On 25th November and 18th December. And in both cases it bounced back. Now we are waiting what will happen third time.

Well, we got the double bottom attempt I was expecting. The daily candles look pretty ugly with that $300 dump today, but we're still just chopping inside the same range from the past 2 weeks. I'm not confident in a revisit to the December lows yet.

If we do go back there, I don't expect a triple bottom. Those are extremely rare. I'd be looking closer to $6K or $5,400 for support.

The current support of bitcoin is around $6400 and it can considered as major support where the price are mostly bouncing, if there will be a breakdown that will happen; the next support level is at $5500. And if the $5500 got broken the next support is at $5000 where we can considered at psychological support. It is a bad sign if the price of the bitcoin get breakdown again because it only saying that the bearish market will still last long.

[Reid]

It may not go below 6k anymroe. That may have been the last time we will see it.
Lucky are those who have bought some bitcoins at that time. I really hoped I did but I am too busy with things and didn't even looked at the bitcoin price.
As I checked it, sadly it was already back to $7k+.

There is an event getting near which is called the halving and as days pass by we might see more pumps that will happen for people will be buying back.

[danherbias07]

You might have missed the entry point which is $6800.

There is still a resistance with $7k. It might have dropped that low but it did not take long.
I am expecting a large pump again after this year. Investors will be buying out of fear or having a though that they might regret it later.
Later is the upcoming halving.
I don't believe some analysts which tells there will be not much movement before that.
There will be. That is my opinion though, you can also have yours.

[Oneandpure]

I think at $6800 is most support level for bitcoin price and become your chance to invest with bitcoin during faced with bitcoin halving next year and have higher price, you can start your investing with bitcoin on support level price $6800 and waiting your investing is fill completed and hold until several month later when bitcoin halving coming one month again you can sell it and get profit.

[Juggy777]

It hit $6600 twice. On 25th November and 18th December. And in both cases it bounced back. Now we are waiting what will happen third time.

Well, we got the double bottom attempt I was expecting. The daily candles look pretty ugly with that $300 dump today, but we're still just chopping inside the same range from the past 2 weeks. I'm not confident in a revisit to the December lows yet.

If we do go back there, I don't expect a triple bottom. Those are extremely rare. I'd be looking closer to $6K or $5,400 for support.

@exstasie bitcoin prices won’t touch $5400 levels so soon because they have found strong support at $7k levels, and even if we assume the worst then also I feel that bitcoin prices will start rebounding at $6300 levels and it won’t slip any further. As of now bitcoins prices are trading at $7200 levels on preev, and in my personal opinion bitcoin prices shall end the year between $7100 - $7200 levels what are your thoughts on this?.

[skiorf]

The current support of bitcoin is around $6400 and it can considered as major support where the price are mostly bouncing, if there will be a breakdown that will happen; the next support level is at $5500. And if the $5500 got broken the next support is at $5000 where we can considered at psychological support. It is a bad sign if the price of the bitcoin get breakdown again because it only saying that the bearish market will still last long.

I disagree with you, because I am not sure Bitcoin will decline to $5,000 as you say.
because it seems like you are using a 1D timeframe to name that price, whereas December is at the end. as I usually do for the 1D timeframe when the month moves to January the support and resistance lines will change, so it doesn't have to be $5,000.

[Distinctin]

We don't get bad of the price will fall into $6,500 or even below. Though it is not the support we look for but we have nothing to do for this. May others have sold their Bitcoin as low price making the price fall and they are more than enough to drag the market. But it was not the end of Bitcoin.

I read this one it seems to enlighten us and to find the time to buy or sell https://www.tradingview.com/ideas/supportandresistance/

[samuraijin]

not long ago the price of bitcoin fell below $ 6400 and the price went up again, it seems like buying support at that price is very strong so it is not easily penetrated let alone go down below it too long, in my opinion at this time is the right time to trade, soon we welcome the year 2020 hopefully it will be even better

[buwaytress]

It hit $6600 twice. On 25th November and 18th December. And in both cases it bounced back. Now we are waiting what will happen third time.

Well, we got the double bottom attempt I was expecting. The daily candles look pretty ugly with that $300 dump today, but we're still just chopping inside the same range from the past 2 weeks. I'm not confident in a revisit to the December lows yet.

If we do go back there, I don't expect a triple bottom. Those are extremely rare. I'd be looking closer to $6K or $5,400 for support.

And what do you think would the triple bottom rarity event suggest, if it does happen? Simply a delay in the 6k support test or an unwillingness from the buyers to relent on current support so soon into the new year?

Personally also am prepping for another 6k, then 5k, and maybe even 4k all the way till March before that end of q1 steam propels ahead for another unyielding ride to the top. And I'm only saying 4k cause every year, the low gets higher and I don't think we'll see a first time that trend bucks in 2020.

[kolonel_x]

We don't get bad of the price will fall into $6,500 or even below. Though it is not the support we look for but we have nothing to do for this. May others have sold their Bitcoin as low price making the price fall and they are more than enough to drag the market. But it was not the end of Bitcoin.

Difficult to say if touching the price of $ 6500 is too low and will not reach the suppord area like that, of course this is not my desire to reach the low price as mentioned, but I did not find a beaten bitcoin price going where it would be whether it would be more stable at current prices or will it be bullrun? Let's look tomorrow

[codegnome]

Right now 7000$ look like a great support for bitcoin as its not falling beyond that price. We saw pumping at 6800$ that took bitcoin to 7500$. My prediction is if bitcoin fall beyond 7000$ then next support will be 5000$.

[exstasie]

Well, we got the double bottom attempt I was expecting. The daily candles look pretty ugly with that $300 dump today, but we're still just chopping inside the same range from the past 2 weeks. I'm not confident in a revisit to the December lows yet.

If we do go back there, I don't expect a triple bottom. Those are extremely rare. I'd be looking closer to $6K or $5,400 for support.

@exstasie bitcoin prices won’t touch $5400 levels so soon because they have found strong support at $7k levels, and even if we assume the worst then also I feel that bitcoin prices will start rebounding at $6300 levels and it won’t slip any further.

I don't see strong support in the $7,000s. The bounces off $6,400 and $6,500 had a lot of potential but bulls have been rejected hard below every pivot from November and December. Every high is a lower high, with nasty wicks to boot. The chart still indicates that we might be slow bleeding to lower lows.

Breaking above $7,700 with authority will paint a more optimistic picture. Bulls need to show a sign of strength before we can be confident the bottom is in.

[sunsilk]

Right now 7000$ look like a great support for bitcoin as its not falling beyond that price. We saw pumping at 6800$ that took bitcoin to 7500$. My prediction is if bitcoin fall beyond 7000$ then next support will be 5000$.

Few days ago it was $7,400 and I thought it will break $7,600 but it didn't happen, maybe in some exchanges. I'm waiting again for $6,500 - $6,800 levels to start buying and that will be my price indicator that I should although it's always the right time to buy if you're long but I have just set myself with those prices that I have mentioned.

$5,000 will be the support if it goes under $7,000? hmm.. I'm more convinced that it will be $6,000 - $6,500. Let's wait until the first day of 2020 if bitcoin will be pulled down below $7,000.

[Yamifoud]

Right now 7000$ look like a great support for bitcoin as its not falling beyond that price. We saw pumping at 6800$ that took bitcoin to 7500$. My prediction is if bitcoin fall beyond 7000$ then next support will be 5000$.

Few days ago it was $7,400 and I thought it will break $7,600 but it didn't happen, maybe in some exchanges. I'm waiting again for $6,500 - $6,800 levels to start buying and that will be my price indicator that I should although it's always the right time to buy if you're long but I have just set myself with those prices that I have mentioned.

$5,000 will be the support if it goes under $7,000? hmm.. I'm more convinced that it will be $6,000 - $6,500. Let's wait until the first day of 2020 if bitcoin will be pulled down below $7,000.

That was exciting to see how the market change in the next couple of hours( that was the year 2020).
The price still stands above $7k ( thas was $7,100 at my post) but I couldn't find a big change in it. Not really sure but the resistance and support level will still stay the same until next early next year. The commencement of halving is only our hope to see a huge market change otherwise, we live the current price the same.

[crzy]

Right now 7000$ look like a great support for bitcoin as its not falling beyond that price. We saw pumping at 6800$ that took bitcoin to 7500$. My prediction is if bitcoin fall beyond 7000$ then next support will be 5000$.

I’m still doubting on the support level of $5k since I believe we will not touch that price level again. This new year bitcoin will start to recover and there should be no major dumps because the bull will change the market for a better again. Bitcoin next support level when the market pump is around $10k, pretty higher compare last year.

[bitcoindusts]

not long ago the price of bitcoin fell below $ 6400 and the price went up again, it seems like buying support at that price is very strong so it is not easily penetrated let alone go down below it too long, in my opinion at this time is the right time to trade, soon we welcome the year 2020 hopefully it will be even better

We hope that Bitcoin market is better but it seems Bitcoin downtrend will continue.  Analyst may say that Bitcoin may rally because of some divergence forming but the fact that the chart looks like the downtrend will continue still remain.  I think for now we should be happy that Bitcoin is going sideways.

[skiorf]

So Bitcoin dropped under 7040$ support and fall to the next one at 6800$. Are the support level at 6800$, 6400$ and 5800$ breakable? are we really going that low. Where would be the best entry point till the end of the year in your opinion?

The year 2019 has ended, when you see the lowest point throughout 2020. according to my analysis for the price of Bitcoin this January to February, the best level of support is around 5800 $. which is where I looked at my technical analysis, the $ 5800 price was the last support until the end of this month. I myself will buy it when the support is achieved.

[samuraijin]

not long ago the price of bitcoin fell below $ 6400 and the price went up again, it seems like buying support at that price is very strong so it is not easily penetrated let alone go down below it too long, in my opinion at this time is the right time to trade, soon we welcome the year 2020 hopefully it will be even better

We hope that Bitcoin market is better but it seems Bitcoin downtrend will continue.  Analyst may say that Bitcoin may rally because of some divergence forming but the fact that the chart looks like the downtrend will continue still remain.  I think for now we should be happy that Bitcoin is going sideways.

right now we are in 2020 where the best time has really come, we will really see where the whales are playing with all of us here, so I'm not sure about prices going down more than before, bitcoin will answer everyone's questions, what is this it's time to get a better price than last year, hope buy support will come soon waiting for them new people to come with money

[1Referee]

according to my analysis for the price of Bitcoin this January to February, the best level of support is around 5800 $. which is where I looked at my technical analysis, the $ 5800 price was the last support until the end of this month. I myself will buy it when the support is achieved.

It's hard to think of the price stopping at $5800 when we get to dip under the $6000 level. I'm confident that it will be a quicky to low $5000's in case we do have more weak hands to shake out. The 200 weekly MA is a magnet and will be where I go balls deep one more time. Currently it's hovering just under $5100 and moving up week after week.

That being said, too many people aim at sub $6000 levels currently, which only makes it less likely to actually happen. Of course, dumb money can be right too just by luck, but in general, they are wrong far more often than right, and that makes me a tiny bit more bullish.