BTC TO 5K$ soon

[jakelyson]

For last 6- 7 months btc price was around of 7.5k$ , now this support level is no longer, that mean btc is ready to dump hard.

Bullshit 7500 has broken over and over in the last few months and it didn't drop down to $5000, there is no reason this dip below 7500 would cause it to go to 5000.

Anything is possible and in bitcoin, it does not need any reason, sometimes it just happens. Remember mid-2019 when the price is 3500 and the price suddenly jumps to 7k in a few weeks and continued to 12k before retreating back to  7.5k after few months? The reverse can happen if it keeps testing the support.

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[justdimin]

$5000 is just waaay too low for bitcoin to fall at this point, we are getting closer to halving very soon and that means there won't be as many bitcoins being sold on the market as it used to be, I am not saying price will skyrocket but it will be a lot more difficult to sell bitcoin since there will be less of it, think about all those times when $10k bitcoin sold on the market all at once destroyed the market, well miners make that in 12 days so they had the power to drop the price whenever they want to and that will be gone very soon.

Hopefully, tho we will get bitcoin movement upwards but even if that doesn't happen $5k would require a lot more help for miners since they can't do it alone. I would say going towards $10k is more likely than $5k at this stage.

[alexsandria]

For last 6- 7 months btc price was around of 7.5k$ , now this support level is no longer, that mean btc is ready to dump hard.

Well it just increased from the last day by +5.97%. I don't think that bitcoin wouldn't drop below 7k but the thing is it is still going through 7k till now that it is quite hard to say it would go down as early as now because we are just in beginning of 2020, and market are just taking the pace. Might be taking another month for btc to drop down, kinda think so.

[AakZaki]

For last 6- 7 months btc price was around of 7.5k$ , now this support level is no longer, that mean btc is ready to dump hard.

I'm not sure what you say bitcoin will experience a dump, in my technical analysis for the 1D time frame, the $5000 support didn't exist until the end of January. if that happens maybe not this January. while the weekly timeframe for the Parabolic SAR indicator is slightly above the candle around $8100, which may be achieved in the near future. and there is a hammer candlestick, as I learned it is a sign of a bullish occurrence. so in my opinion $5000 won't happen anytime soon.

[pixie85]

I don't want to see massive dump if I would be honest. But this is nearly possible if it doesn't even pump at $8,000-$8,500, then we can expect dump below $6k. However, we can't really say. Even technical analysis isn't precisely correct with unexpected sideways. Anyway, I am so excited with upcoming halving, this just means price spike though.

Nobody wants to see a massive dump. Maybe Bitcoin haters do, but nobody who remains here in the space. Most if not all of us have some bitcoins and dumps are always a painful thing to watch.

Technical analysis is never precise and as many times correct as it is incorrect. It all depends on the analyst. Known analysts like Dan Morehead, Tone Vays, Tom Lee, you name it, all of them were wrong somewhere in the last 2 years. Some more than others

[Darooghe]

For last 6- 7 months btc price was around of 7.5k$ , now this support level is no longer, that mean btc is ready to dump hard.

In my opinion, as long as price is below $7,300 the bias is for short trades. sellers aim to turn the $7,100 support into resistance and then target $7,000 level. Crossing that shorts will target $6,800. There are signs of bear exhaustion but have not played out yet. On the other hand Buyers are trying to impose a bullish momentum in the very short term. As long as the price remains well above 7,300-7,350 USD longs will be targeting the resistance at 7,450 USD followed by 7,500 USD. most signals given by moving averages are bullish now.

[Oceat]

The support level is quite strong despite of the recent drop it still took its way to rise again with the stable price of $7k range. So I don't think we will see that $5k within this month but if the recession will continue then we should expect that there is a chance that we will see that $5k in the future.

[Sahyadri]

I highly doubt that. The correction from $13k first stopped at $9k and then it was stopped by the support of $7k. After that it got tested many a times but couldn't be breached. So I am guessing that the volume at this support is strong enough to keep the price above $7k. $5k is not happening anytime soon.
I am expecting the price to go and touch $9k before anymore correction. If it gets the volume support at $9200, it can very well touch $13k back again.

[romero121]

For last 6- 7 months btc price was around of 7.5k$ , now this support level is no longer, that mean btc is ready to dump hard.

thats what you believe but that is not will going to happen,bitcoin is in the move to the top now and this is starting today.
from below 7k$ last night bnow it runs $7,300 again and continues to go up again so basically we are not pulling down to 5k$.

2 times dump and support at 6500 is quite strong, even after falling to 6880 bitcoin has now recovered to 7300, we see whether support 6500 will break, it might happen to 5000 but for now what will make bitcoin soon to 5000?

Just upon the sudden drop in the price below $7000 everyone believed there'll be big crash to come by the falling days. To the expectation the price has increased much high than the point from which the fall in price got initiated. What's been happening with the market is quite common in terms of growth. The support level getting broken is just a pathway.

[fabiorem]

You see green on one day, then you see red in the next three days.
So how can you say the price is not going down? Even if you dont want it, the market is showing otherwise, and analysis should be based on facts, not on what you want.
If it was by me, bitcoin would be 50k already, but its not, because we are in a staggering bear market, which is posed to last 3-4 years at the minimum.
The market is manipulated. Bitcoin technology is great, but the market have all the characteristics of a ponzi scheme, and the price is determined by the few whales who happened to hold since the early days.

So lets be real here. Every day I see lower highs, so its clear the price is going to dump hard. Right now is pointing to 3k, and can go as low as three digits if no new money comes in. Very possible to happen.
Also read the opinions of sgbear, who is a authority in market prediction. He called the top, and predicted 2k by 2021. For this reason, I'm not buying until we see the bottom.
DCA? Useless strategy, when you know the price is going to dump hard. Just hold your money until we see 2k by 2021, but it can go even lower than that. I believe we are going to see 1k before it, and 2k will be a recovery. It will take 5-8 years for bitcoin to go back to the previous ATH. The bear market is endless. That's why it is a bear market. Get used to it, because the only way is down.

[samuraijin]

For last 6- 7 months btc price was around of 7.5k$ , now this support level is no longer, that mean btc is ready to dump hard.

Are you sure about your guess, what makes you believe that there will be a hard dumper, how much money do you have to buy it below? why not bet here?
I am sure many people will take it when under $ 6000 and even everyone is waiting for the current time, support can just come suddenly, just wait for a moment of surprise to come

[Free1bitco.in]

I highly doubt that. The correction from $13k first stopped at $9k and then it was stopped by the support of $7k. After that it got tested many a times but couldn't be breached. So I am guessing that the volume at this support is strong enough to keep the price above $7k. $5k is not happening anytime soon.
I am expecting the price to go and touch $9k before anymore correction. If it gets the volume support at $9200, it can very well touch $13k back again.

I also do not doubt that. at the moment I am more optimistic about the price of bitcoin. rather than worrying about falling prices, I am more focused on preparing halving, or ethereum 2.0
however, the price of $ 5k could be glazed, but that needs to be a cause and currently, there is no cause, or the potential to see the price of bitcoin drop. I am of the opinion that the bitcoin spirit will rise little by little at this time.

[coolcoinz]

You see green on one day, then you see red in the next three days.
So how can you say the price is not going down? Even if you dont want it, the market is showing otherwise, and analysis should be based on facts, not on what you want.
If it was by me, bitcoin would be 50k already, but its not, because we are in a staggering bear market, which is posed to last 3-4 years at the minimum.
The market is manipulated. Bitcoin technology is great, but the market have all the characteristics of a ponzi scheme, and the price is determined by the few whales who happened to hold since the early days.

So lets be real here. Every day I see lower highs, so its clear the price is going to dump hard. Right now is pointing to 3k, and can go as low as three digits if no new money comes in. Very possible to happen.
Also read the opinions of sgbear, who is a authority in market prediction. He called the top, and predicted 2k by 2021. For this reason, I'm not buying until we see the bottom.
DCA? Useless strategy, when you know the price is going to dump hard. Just hold your money until we see 2k by 2021, but it can go even lower than that. I believe we are going to see 1k before it, and 2k will be a recovery. It will take 5-8 years for bitcoin to go back to the previous ATH. The bear market is endless. That's why it is a bear market. Get used to it, because the only way is down.

It's not pointing at anything! You can try to be smart and draw a line downward sloping line on a 1d chart and it will tell you that the low should now be at 5800 and at 5k in February, and then 3k in May. What will that really tell you? Nothing. you can also draw a line on a 1w chart and it will tell you that if we follow the long term trendline we'll be at the low of 8k in May. What's more important? The last 6 months or the last 10 years?

[Wysi]

It is pretty much possible but at the same time we need to understand the reason why there was no dump during Christmas and new year which happens every time. I feel market will not be stable as either there will be pump or dump because we have already witnessed a pretty stable market situation in 2019 but since we have bitcoin halving this year we will see a lot of fluctuations.

[Hamphser]

It is pretty much possible but at the same time we need to understand the reason why there was no dump during Christmas and new year which happens every time. I feel market will not be stable as either there will be pump or dump because we have already witnessed a pretty stable market situation in 2019 but since we have bitcoin halving this year we will see a lot of fluctuations.

I'm pretty there's a slight dump during that time although it's not that noticeable but that's enough to think as a dump. From $10,000 to $7,000 is a dump for me though it's kind of advanced dump but still it's a dump.
And now we're lucky that the price become more stable than what I've expected.

[acdc]

Anything can happen in the cryptocurrency market, but I think that the possibility of bitcoin returning to the $ 5k mark is very unlikely. Until now I don't see any reason why bitcoin's price will drop to $ 5k, perhaps bitcoin will be traded at 7k ~ 7k5 in early 2020 and increase by the end of 2020.

[pixie85]

If you said 6000 I'd agree but 5? Some traders are saying that low support is at 5600 but 5000 is not an important level. If we dip to 5500 it could maybe support the price but most buyers will be ready to enter at 6000 maybe 5800. At 5000 those who wanted to enter earlier will have entered already.

We should be at least at 7 now because 6 was a strong support a year ago and we are in a growing market. Hash power is getting higher and higher, the network is much stronger than it was at 20 thousand and we aren't even at half that price.

[Shinpako09]

Tbh, even I thought were going to see $5k last month, but I was wrong and it's proven for how many times since last month up to now that support at $7k is strong. Look at the past few days, we've dropped hundred of bucks but goes up again above $7k. If $5k is really possible, it should have happened last month where in it has the greatest chance because of holidays, people are selling to have some money. If $5k won't be seen in February, maybe the chance of seeing it became lesser.

[TitanGEL]

As for my analysis, the current price of the bitcoin is at around $7400 per each and the 20 moving average and 50 moving average are now became support of the bitcoin. The price of the bitcoin will only become $5000 per each if the the 20 moving average and 50 moving average will strikes down because those 2 moving averages will become resistance.

[gabmen]

Tbh, even I thought were going to see $5k last month, but I was wrong and it's proven for how many times since last month up to now that support at $7k is strong. Look at the past few days, we've dropped hundred of bucks but goes up again above $7k. If $5k is really possible, it should have happened last month where in it has the greatest chance because of holidays, people are selling to have some money. If $5k won't be seen in February, maybe the chance of seeing it became lesser.

Lol. It can go down to 5k without any significant reason. It did so a lot of times. The fud and anxiety factor can't be removed and once triggered, the price can again snowball to even less than 5k. The thing is, so what? We've seen numerous times that bitcoin rallied at a certain point during a dump. 2019 is proof that bitcoin will recover even if it slides below a feared price.