¿Correction/pull-back at 10k?

[GuyFromBarcelona]

It seems like a lot of support is being builded around 9500. ¿Do you think we will face a significant correction at 10k? I am doubting between buying more now at 9500-9600 or waiting to the correction.

But it seems that it could pass 10k without any pullback, or there could be one but not strong enough to go lower than that. What would you guys do?

[The Sceptical Chymist]

I am doubting between buying more now at 9500-9600 or waiting to the correction.

My question to you is: were you buying bitcoin when it was getting pounded down to below $7k?  That would have been the ideal time to be buying, whether you're looking for short-term gains or investing for the long term (IMO).  If you're wondering whether you should be buying bitcoin when it's on an upward tear, you might have missed out on the best opportunities already.

However, I do think bitcoin is going to go higher--$10k within a very short time frame isn't out of the question, because as I'm writing this post it's above $9700 right now.  So even if you didn't buy when it was low(er), I don't think it would be a bad idea at all to buy now.  You definitely don't want to miss out if we start shooting past $10k, nor do you want to wait until bitcoin's price is near its peak (wherever that may be).

Edit:

I didn't buy at 7k because I haven't had the money available. Unfortunately I wanted to, so I have seen the opportunity passing in front of my eyes. But its now when I can buy so I'm trying to choose the less catastrophic entry.

Gotcha.  You could always wait for a dip, but you'd be taking a chance of missing out--you don't know how high bitcoin is going to go before there's a dip.  If I were you and I had the money to invest and the stomach to take the risk, I'd buy in right now.  But you know your situation best, so do what you think is right and good luck.

[GuyFromBarcelona]

I am doubting between buying more now at 9500-9600 or waiting to the correction.

My question to you is: were you buying bitcoin when it was getting pounded down to below $7k?  That would have been the ideal time to be buying, whether you're looking for short-term gains or investing for the long term (IMO).  If you're wondering whether you should be buying bitcoin when it's on an upward tear, you might have missed out on the best opportunities already.

However, I do think bitcoin is going to go higher--$10k within a very short time frame isn't out of the question, because as I'm writing this post it's above $9700 right now.  So even if you didn't buy when it was low(er), I don't think it would be a bad idea at all to buy now.  You definitely don't want to miss out if we start shooting past $10k, nor do you want to wait until bitcoin's price is near its peak (wherever that may be).

I didn't buy at 7k because I haven't had the money available. Unfortunately I wanted to, so I have seen the opportunity passing in front of my eyes. But its now when I can buy so I'm trying to choose the less catastrophic entry.

[Bagaji]

It seems like a lot of support is being builded around 9500. ¿Do you think we will face a significant correction at 10k? I am doubting between buying more now at 9500-9600 or waiting to the correction.

But it seems that it could pass 10k without any pullback, or there could be one but not strong enough to go lower than that. What would you guys do?

I see that you are currently in the state of dilemma and if were you, what I will end up doing to be on the safe side it to use about 50 percent of the money I have for the Bitcoin investment to buy bitcoin now that its value is still around $9500 - $9600 because there is a strong tendency that Bitcoin price will hit $10,000 and above before end of this month. But the tendency of Bitcoin price to drop significantly at this time is very low.

[LFC_Bitcoin]

There could be a pullback at $10,000 but there's nothing that’ll really force that. $10,000 may act as a psychological sell point for lots of people but it might not. In late 2017 we carved through $10,000 like a knife through hot butter.

Stop trying to catch a bottom because it’s unlikely you’ll get it perfectly. Buy now or cry later.

[Bagaji]

I am doubting between buying more now at 9500-9600 or waiting to the correction.

My question to you is: were you buying bitcoin when it was getting pounded down to below $7k?  That would have been the ideal time to be buying, whether you're looking for short-term gains or investing for the long term (IMO).  If you're wondering whether you should be buying bitcoin when it's on an upward tear, you might have missed out on the best opportunities already.

However, I do think bitcoin is going to go higher--$10k within a very short time frame isn't out of the question, because as I'm writing this post it's above $9700 right now.  So even if you didn't buy when it was low(er), I don't think it would be a bad idea at all to buy now.  You definitely don't want to miss out if we start shooting past $10k, nor do you want to wait until bitcoin's price is near its peak (wherever that may be).

I didn't buy at 7k because I haven't had the money available. Unfortunately I wanted to, so I have seen the opportunity passing in front of my eyes. But its now when I can buy so I'm trying to choose the less catastrophic entry.

This is the major problem so many people do have most times. They are always afraid of buying when Bitcoin price nosedived which is the perfect time but they end up buying when they noticed the profit they would have made if only they buy when Bitcoin price at xxxx low than the current price.

[GuyFromBarcelona]

I am doubting between buying more now at 9500-9600 or waiting to the correction.

My question to you is: were you buying bitcoin when it was getting pounded down to below $7k?  That would have been the ideal time to be buying, whether you're looking for short-term gains or investing for the long term (IMO).  If you're wondering whether you should be buying bitcoin when it's on an upward tear, you might have missed out on the best opportunities already.

However, I do think bitcoin is going to go higher--$10k within a very short time frame isn't out of the question, because as I'm writing this post it's above $9700 right now.  So even if you didn't buy when it was low(er), I don't think it would be a bad idea at all to buy now.  You definitely don't want to miss out if we start shooting past $10k, nor do you want to wait until bitcoin's price is near its peak (wherever that may be).

I didn't buy at 7k because I haven't had the money available. Unfortunately I wanted to, so I have seen the opportunity passing in front of my eyes. But its now when I can buy so I'm trying to choose the less catastrophic entry.

This is the major problem so many people do have most times. They are always afraid of buying when Bitcoin price nosedived which is the perfect time but they end up buying when they noticed the profit they would have made if only they buy when Bitcoin price at xxxx low than the current price.

It's now when I have money available. Of course buying before would be better but I prefer to make the best available decision rather than blaming myself and ending up buying even higher.

[Bagaji]

Well the decision is yours, but I will advise you to through my previous post here and some other advise you may see here later for you to make an informed trading decision to avoid later regret for not making an informed trading decision dude and I wish you all the best Man.

[stomachgrowls]

It seems like a lot of support is being builded around 9500. ¿Do you think we will face a significant correction at 10k? I am doubting between buying more now at 9500-9600 or waiting to the correction.

But it seems that it could pass 10k without any pullback, or there could be one but not strong enough to go lower than that. What would you guys do?

Im not really into technical sentiments but if we do talk about signals or patterns then i dont see any bullish momentum for btc price and resistance of 10k
would neither be break or not.Pullback and corrections is inevitable yet we are already heading for halving.We can possibly able to see shooting up prices
but still not an assurance or guarantee.

For now its better to sell out if you have bought a little bit lower on todays price.Going short as of this moment isnt really a bad idea.
Just accumulate when theres correction.

[exstasie]

But it seems that it could pass 10k without any pullback, or there could be one but not strong enough to go lower than that. What would you guys do?

I've been anticipating a correction off the $10K-$10.5K area for a while. It's a major horizontal resistance area on the long term charts due to past pivots/failures. It has technical importance too: the market hasn't made a higher high pivot since June 2019, so bears have strong motivation to attempt a selloff before that happens.

The bullishness is hard to deny though. The way this consolidation is panning out, I'm beginning to doubt we'll see any lower than the $8,800s where the 200-day MA is.

[hahay]

Yes, when it exceeds 10k the correction that occurs next may not be lower than 9k because even the correction that occurred yesterday is not lower than that value and it seems very likely for this surge to exceed 10k and then the price will only struggle at that value. But if you believe prices will rise higher in the next quarter, I think buying now or waiting for the next correction is still a good idea because waiting or buying now is the same in the sense that you buy at a price that is not cheap anymore because the price will continue to increase to be more expensive.

[sunsilk]

Why you just opened this question when few hours ago we were @ $9,100. This is one problem of some buyers, they tend to buy only when they see the price starts to rise and when it's on the bottom, they wouldn't ask such question or act accordingly to buy.

I'm a holder and basically that's all I do but when we see some dips, buying without hesitation is what I do. Corrections? just expect that it will come most of the time. It's an unending cycle when we see it pumps.

[GuyFromBarcelona]

Why you just opened this question when few hours ago we were @ $9,100. This is one problem of some buyers, they tend to buy only when they see the price starts to rise and when it's on the bottom, they wouldn't ask such question or act accordingly to buy.

I'm a holder and basically that's all I do but when we see some dips, buying without hesitation is what I do. Corrections? just expect that it will come most of the time. It's an unending cycle when we see it pumps.

I sincerely don't get why is that question repeating, obviously I haven't chosen to buy higher on purpose. I opened the question when I knew about btc world/thing + had my money available in the exchange.


The same reason why everybody didn't bought at $3000. And $200. And $5. I guess everybody would prefer buying before and at a better price than how they did.

All of you learn about btc and/or got some money at some point, and there was other people before you who entered in a better moment than you that could make the same question.

[GreatArkansas]

$9,000 for me is the key support for Bitcoin now.
Breaking above $10,000 could be easily $11,000 - $12,000.
If you see the weekly timeframe chart of Bitcoin, the volume is decreasing while the green candles is rising. Bitcoin is ready to burst.
If it is good to you, much better if you put some buy orders in hourly/daily support levels because it is possible to say some huge dildo candles or wicks nowadays.

[STT]

Dont hang off the round number of 10,000 itself, consider all the different nations clocking up BTC in their own money.   USD sure is important but its not the money I spend every day and I refer to a different price and so with BTC there is no round number significance on a personal level.     It matters and it doesnt, for convenience any flat thousand will register as it will be in alot of orders but I think we'll find the actual top is past 10k and it matches the 2019 Summer low prices partially; I call the convenient flat levels speedbumps.

   The easiest way to find a probable area of turn around right now is go back and using weekly bars, observe where they open and close and share a common resting point.    The more points shared, the greater the likely volume in this area.   Even better is if you can collect the volume from 6 different exchanges and amalgamate the data accounting for FIAT exchange rates at that time and perfectly match volume.   I dont have those resources to be juggling that constantly so Bitfinex is mentioned as a reliable source to spot volume highs and lows because its one of the largest exchanges.    
  Also this index is trying to bring in some formality or standardisation to traded price I think, not sure BTC will ever conform uniformly like conventional markets but it could be significant if many acknowledge and use it as a resource.

[sunsilk]

Why you just opened this question when few hours ago we were @ $9,100. This is one problem of some buyers, they tend to buy only when they see the price starts to rise and when it's on the bottom, they wouldn't ask such question or act accordingly to buy.

I'm a holder and basically that's all I do but when we see some dips, buying without hesitation is what I do. Corrections? just expect that it will come most of the time. It's an unending cycle when we see it pumps.

I sincerely don't get why is that question repeating, obviously I haven't chosen to buy higher on purpose. I opened the question when I knew about btc world/thing + had my money available in the exchange.


The same reason why everybody didn't bought at $3000. And $200. And $5. I guess everybody would prefer buying before and at a better price than how they did.

All of you learn about btc and/or got some money at some point, and there was other people before you who entered in a better moment than you that could make the same question.

I'm sorry if that bothers you but it's the usual question that you'll get from people because just few hours ago the price was lesser by $500. I see the point of your justification and I have heard of that before because there's a motion for the market.

And with that said, it's better to buy when there's a movement not that when it's too stagnant because it seems too unstable and the direction isn't sure where it will go.

[pooya87]

Do you think we will face a significant correction at 10k?
But it seems that it could pass 10k without any pullback, or there could be one but not strong enough to go lower than that. What would you guys do?

not significant and not after $10k. but smaller correction and before $10k meaning if price couldn't break it then we can see a small drop but if it breaks $10k then chances of it coming back below it are very small since there is a much higher chance of price shooting a lot higher.

I am doubting between buying more now at 9500-9600 or waiting to the correction.

well you should have bought when price was a lot lower than this if you wanted an investment, even so you still can buy even if price was higher than this. if you are day trading then your question is wrong.

[GuyFromBarcelona]

Do you think we will face a significant correction at 10k?
But it seems that it could pass 10k without any pullback, or there could be one but not strong enough to go lower than that. What would you guys do?

not significant and not after $10k. but smaller correction and before $10k meaning if price couldn't break it then we can see a small drop but if it breaks $10k then chances of it coming back below it are very small since there is a much higher chance of price shooting a lot higher.

I am doubting between buying more now at 9500-9600 or waiting to the correction.

well you should have bought when price was a lot lower than this if you wanted an investment, even so you still can buy even if price was higher than this. if you are day trading then your question is wrong.

Same thing again over again... that is like telling you that you should buy lower at 200$ if you wanted an investment. Or 5$ if you did it at 200$.

I honestly don't get why everybody keeps telling me that I should bought lower  . Isn't that applicable to literally... everybody?

I am trying to take the best option from the moment I am here. Of course buying at 7k would be better.

I am just trying to guess which price will be better, if the current one or the one we will have after touching the 10k resistance, but as I am new I don't know how btc normally reacts to that kind of things. Even if I plan on holding and DCAing is comprensible that in case we should expect a really strong pullback at 10k, I could go for it when reaching 10k, instead of buying at 9700 which is almost there.

My conclusion so far is that there won't me a major pullback after taking a look of the books an orders of the exchanges. I don't see it going back lower than 9500. On the other hand I see it going to 10500 without any pullback at all. So I have an order at 9600.

[exstasie]

I am just trying to guess which price will be better, if the current one or the one we will have after touching the 10k resistance, but as I am new I don't know how btc normally reacts to that kind of things. Even if I plan on holding and DCAing is comprensible that in case we should expect a really strong pullback at 10k, I could go for it when reaching 10k, instead of buying at 9700 which is almost there.

My conclusion so far is that there won't me a major pullback after taking a look of the books an orders of the exchanges.

There is both technical and psychological resistance in the $10K area. I've been anticipating a pullback from there for a while. Not necessarily from $10K exactly but the general $9,800-$10.3K area.

It's possible the market explodes right through it; markets are unpredictable in that way. However I'm certainly considering the possibility of something like this:



The 200-day MA beckons.

[Reid]

I didn't buy at 7k because I haven't had the money available. Unfortunately I wanted to, so I have seen the opportunity passing in front of my eyes. But its now when I can buy so I'm trying to choose the less catastrophic entry.

Now or never.
That is how I think.
If there is a chance do it.
No one knows what the future will be. Which is equal to no one knows where bitcoin will really go.
All are just mere prediction without 100 percent accuracy.

In the end, it will be your decision. Don't come back blaming others for what choice you just did.
They can put all the technical and whatever kind of analysis it could be but as I said those are predictions only.