¿Correction/pull-back at 10k?

[romero121]

The price at the moment is getting close to the $10000 mark. Probably when price reaches $10k surely it'll undergo some price correction before the next jump in the price. The growth pattern seems to fluctuate and give a growth at the end over the past few days. We can expect the same form of growth to happen till the days of halving.

Following the growth of bitcoin good increase in the market of almost every altcoins were experienced. This has got similarity as the previous bull trend taking price to ath value of every cryptocurrency.

[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.

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.

the point is that whenever you want to enter a market you do it when things are calm and at the bottom not when the rise has started. it is not meant as a regret but something to keep in mind for future decisions.
right now it is not possible to predict whether we can see a pull back or not. we can guess and that's about it. i've already shared my thoughts above.

however if you can't make a decision, then place multiple buy orders at different prices. unless you are trying to buy a very small amount of bitcoin (like $20) you can split your money among multiple orders. for instance buy 20% right now at the current price, set aside another 20% of your money for the possible case of a pull back and the rest for the other possible case of a rise meaning to buy as soon as price broke $10k.
the numbers are just examples, adjust according to your own liking and based on how possible you think a certain outcome is.

[OrangeII]

at the moment I am pretty sure the price of bitcoin will soon pass the $ 10k wall, however, the price is so close now and it seems like this price increase will continue to occur. in fact, I think that this February, the price of bitcoin will exceed the price of $ 11k, so I think $ 10k is already in an area that is very possible to achieve.

[el kaka22]

In order to have a correction we need to have some sort of indication that price can't go any higher. Correction basically means there are people who saw the increase in price and decided that they want to sell and take their profits, now what does that mean?

The price has to reach to a point that people would be willing to accept it as a good profit. For that to happen the price first needs to stay still, because in otherwise situation price would be still going up (like it is now) and why would anyone be willing to sell their bitcoins at the current price when the price continues to go up? So in order for a correction, we need price to stay still and maybe even fall a bit like it happened last week, then all other people would have to agree that its time to take a profit as well.

[exstasie]

the point is that whenever you want to enter a market you do it when things are calm and at the bottom not when the rise has started. it is not meant as a regret but something to keep in mind for future decisions.

That's simply not true. Most people who try to call the bottom during a downtrend are wrong and the price will keep dumping on them.

You were proclaiming the bottom was already in back in August/September last year:

To those saying “sub 10K bitcoin is over.” RUN!!! Those people are fools.

sub $10k IS over.

Now you are scolding the OP for not buying in the $6,000s?

It's very reasonable to wait for a confirmed bull market on the higher time frames before buying in, and especially before leveraging long.

[pooya87]

To those saying “sub 10K bitcoin is over.” RUN!!! Those people are fools.

sub $10k IS over.

Now you are scolding the OP for not buying in the $6,000s?

It's very reasonable to wait for a confirmed bull market on the higher time frames before buying in, and especially before leveraging long.

i am not scolding OP, just saying that entry is best during calm market and the "accumulation" phase, when the rise begins in most cases it will be already too late to get the best deals.

and the quote is response the starter of that topic suggesting that because there was a small (<10% drop) there should be a massive drop within 24 hours down to $8k (-20%). as we can see now price remained above $10k for 2 months after that claim. i can't see the future but at that time it was indeed over.

[Febo]

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 pump that happen 3 months and a bit ago when Chinese president expressed his love to blockchain  rebounded at 10k. So resistance is expected.  I think the halving brings a lot of positivism, but on other hand people are also uncertain about corona virus and the economic crisis it can cause.  

[Latviand]

I think there will be no correction at that point because the price increase did not occur in a sudden unlike before wherein the market value jumped from one point to another, wherein those were more likely the times when correction occured. But still, we cannot be certain, there could be changes, changes that could be in favor for us, and changes that won't be.

$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.

It is more likely to be at that point, the market price has just entered the $10,000 barrier and the next move will determine if there would be a correction or if the uprise would be continuous and if it would break into twelve or more. By the way, the indicators do seem to be a good one, because there are changes with the number of transactions, which might be because of some people who are holding and investing at this point, expecting for something huge to happen on the following days.

The price at the moment is getting close to the $10000 mark. Probably when price reaches $10k surely it'll undergo some price correction before the next jump in the price. The growth pattern seems to fluctuate and give a growth at the end over the past few days. We can expect the same form of growth to happen till the days of halving.

Following the growth of bitcoin good increase in the market of almost every altcoins were experienced. This has got similarity as the previous bull trend taking price to ath value of every cryptocurrency.

The halving is expected by many people to occur this year which is quite absurd knowing that there cannot be a pattern for such thing, making it impossible to be predicted. Feel free to correct me if I'm wrong, because as far as I know, such occurrence happen randomly.

[criza]

I think, even if there will be a correction about the price of Bitcoin, it would not dump lower than $10,000. Since the start of february, when the $9,600 barrier has been broke, its momentum rapidly increased until it reached the value of $10,000.  But, it didn't stop there, as I have observed same day after it reached $10,000 value, a hundred has been added in its price hours after. Today, the changes in the price of Bitcoin slowed in $10,100 which incorporates a struggle but, it is only a part for the development of the price of Bitcoin, sooner or later it would pump again that might reach $11,000 this month.

[andamarina]

I think a crrection will come and bitcoin might go to 10k or a bit low then 10k, but maybe a hige grow will come later this year if comes money on market.

[Saisher]

If you are a huge buyer in the $ 7000 to $8000 then you have something to rejoice just had a milestone this early of the year it finally reach the $10000 level and there's a lot of great things coming, like the halving and so many companies and countries adopting Bitcoin, now is the time to reap your profit, or better sell some but not most.

[carlisle1]

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?

actually?you got it perfect mate because after at least 3 days from your prediction?yeah we break $10,000 and no fullback happens until now,not like those days when the Pump happens but just after hitting the 5 digits value there are already incoming fullback.
let us hope this rally will be up until May of this year and all the Holders at least may taste aoo the risk and Patience they spend in this Currency.

[monineklutak]

it will be difficult to predict the price of bitcoin, but hopefully this is only a correction and can return to more than $ 10,000, honestly I always monitor the charts

[tbterryboy]

it will be difficult to predict the price of bitcoin, but hopefully this is only a correction and can return to more than $ 10,000, honestly I always monitor the charts

It should not really be difficult for you to speculate the price of bitcoins if you are closely monitoring the graphs. You can try to compare various interval graphs to get a rough estimate for the price movement and it would really prove useful for you.

For example, you should first consider 1 day graph which would confirm the current day movement growth and then you can move over to 1 hour graph which would roughly estimate the hourly candles where you can find some perfect entry points. You could also predict the price if you have huge knowledge on weekly charts. Understanding the weekly charts is a bit difficult for not impossible.

[sana54210]

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?

Even now there is huge support at $9500 which might never make the price go below that at the current stage. You should have bought some coins between 9500 to 9600 as it might already have given you some good profits if even you have sold them at 10000.

Now, buying more coins can get riskier as the price is already struggling somewhat near to 10000 which might even make a correction if it goes below 9500 but if it crosses 10300 than we could soon see bitcoins reaching the new target. At the current stage, you can speculate the markets are try to enter somewhat near to 9700 and try holding them before you could see at 10300 if you are looking for midterm trading.