Is 12K USD is the next target?

[pacman7331]

I feel bullish right now, Bitcoin price overcome the 10K USD zone after a long time! I predicted this two weeks ago that Bitcoin price will hit 10K USD at the end of January or at the first of February! Is Bitcoin price predictable now guys? So, what is the next target? 12K USD? Please share your opinions.

[1715072313]

1715072313

[BrewMaster]

i have been expecting a big FOMO for some time now: https://bitcointalk.org/index.php?topic=5215732.0
but i have not yet seen it happen. all we have seen so far was a very slow and solid rise from $7k to the current $10k+ with enough number of small corrections that leads me to believe that $10k can be a strong buy support.
but as for the FOMO, not seeing it so far can potentially mean a bigger FOMO on the way as there currently are a lot of investors who have been anxiously waiting for a drop to buy but are being disappointed by the minute as price rises. all we need is a small trigger to see a big 30-40% jump

[The Sceptical Chymist]

Is Bitcoin price predictable now guys?

Not even close, and don't delude yourself into thinking it is just because you may have made a good prediction.  I wouldn't say it was obvious that bitcoin would hit $10k this month, but it was certainly looking like it might.

And man, I'm pretty psyched that it is finally back above $10k, even if it's only been about 7 months since it was there--it feels like way longer than that for some reason.  The real question in my mind is whether there's going to be a selloff because of the rise or whether bitcoin will be able to stay above $10k.  I'd say getting to $12k would be pretty sweet, but it would be ideal if it took a few months to do so.  When bitcoin shoots through the roof, there tend to be corrections.  Sometimes full-blown crashes, and I'd prefer it if price gains were slow and relatively steady.

[Lucius]

And man, I'm pretty psyched that it is finally back above $10k, even if it's only been about 7 months since it was there--it feels like way longer than that for some reason.  The real question in my mind is whether there's going to be a selloff because of the rise or whether bitcoin will be able to stay above $10k.

Still, it's been a little over 4 months since price was above ($10k - September 23, 2019), but this is definitely after 2012 the best start of the year in terms of price growth. I think that we may see some selloff, but this price increase appears to be the result of an increasing investment in BTC, halving is getting closer and the expected big bull run could follow after that.

Accordingly, it may now be the last opportunity to buy BTC at a price that can still be considered affordable compared to what it can achieve by the end of this year, or next year. I agree that too fast growth can cause correction, and this is something that is very realistic to expect.

[jhonjhon]

It doesn’t mean that you were able to predict the price few weeks ago it means that bitcoin is all predictable now. In my opinion, it is just a coincidence that you were able to predict is correctly, if bitcoin is that predictable the thrill won’t be on and I think bitcoin won’t be that interesting as it is now.

[exstasie]

I see horizontal resistance ~ $10.4K, $11K, and $12K.

$12K could serve as a short term local top, but ultimately I'm looking for $12,700+. That's the typical minimum target for a Wave 3.

[Kelvinid]

Does the market look in the bullish by now? Not till now but we are on the way to that moment and anytime will possibly happen.
The continuous market pumps may simply mean that the chances are big for Bullrun. But then, we shouldn't have to celebrate by now because for sure dumps would something to happen which I'm afraid that many buyers and holders may fall into FOMO and ruin the momentum that we have today. If we are into that kind of drama, we can't be in the real Bullrun coz it turns back into bearish again.

[magneto]

Absolutely. We've seen 12k pose significant resistance before and that essentially brought the pump late last year to a halt. A lot of people expected a breakout after 12k was breached but at the end of the day, there wasn't enough bullish momentum to keep it going.

If 12k was indeed breached this time round, it'll send a very bullish signal to the wider markets and will definitely cause FOMO of some degree.

It should be a matter of time - but corrections along the way are absolutely normal.

[Kemarit]

Does the market look in the bullish by now? Not till now but we are on the way to that moment and anytime will possibly happen.

Market has been bullish since we enter 2020. Actually we have been, from the last low of $3000 in 2018 up to $10,000 again.

The continuous market pumps may simply mean that the chances are big for Bullrun. But then, we shouldn't have to celebrate by now because for sure dumps would something to happen which I'm afraid that many buyers and holders may fall into FOMO and ruin the momentum that we have today. If we are into that kind of drama, we can't be in the real Bullrun coz it turns back into bearish again.

Definitely, we might see occasional selling to make profit, it's just normal. However, after a few minor corrections, the price seems to go up in the range of 10%-30%. And then when FOMO sets in again, specially at this big mental barrier, I do think that chances are, we are in a sort of mini bull run again. Specially that notion that halving event could bring the price even higher in the future.

[adaseb]

Before we hit the $12K we need some type of correction first. The open interest and funding rates for futures are starting to get really over extended. I know we all want Bitcoin to get 20% days but keep in mind that usually means it's a blow off top and will reverse into bear market territory.

Best is to get a healthy correction, lower the open interest and reset the funding rates while people take profits and new people start to buy the dips. Because if we start getting massive $1000 red candles people will be scared to buy the dips and we will fall further.

See what happens at the CME open, since there will be a gap and see if it gets filled before resuming up trend.

[Baofeng]

I see horizontal resistance ~ $10.4K, $11K, and $12K.

$12K could serve as a short term local top, but ultimately I'm looking for $12,700+. That's the typical minimum target for a Wave 3.

[.. snip ..]

Thanks for sharing your TA again,  I will definitely bookmark this and see how it goes.

But I guess it's really possible at this point with all the enthusiasm and optimism you will see around this community. Even the altcoin market is booming, which means that investors are really back again and with fresh blood pumping the market, it will just be a matter of time before we hit that $12k.

[exstasie]

Before we hit the $12K we need some type of correction first. The open interest and funding rates for futures are starting to get really over extended. I know we all want Bitcoin to get 20% days but keep in mind that usually means it's a blow off top and will reverse into bear market territory.

There will be pullbacks on the way there, sure. The question is, will there be any deep pullbacks, or just sideways ones?

I'm weary of the heavy longs too, but bears keep repeatedly failing to trigger any selloffs. So shorters and trapped bears from the December-January ranges may just continue being squeezed.

I'm beginning to think we won't see a significant (15% or more) correction until after the market reaches $12K-$13K. This is based on the ridiculously strong higher time frame momentum, and all the trapped demand at lower levels. My latest analysis is posted here: https://bitcointalk.org/index.php?topic=5196072.msg53805081#msg53805081

[STT]

12k is not the next target, we're rarely in a free run and even right now price is some resistance quite possibly.    It appears we are bullish, we have momentum but it wont always continue without hesitation.



We're past 9776 the lowest horizontal line shown here from summer 2019 prices but theres many prices that ended around 10200 and it can find enough volume to sell here from holders left over from summer.     Theres easily enough possibility on a monday morning opening though I've no real clue on sentiment to push onwards, generally its best to only doubt a repeating trend after it falters some.

[criza]

I feel bullish right now, Bitcoin price overcome the 10K USD zone after a long time! I predicted this two weeks ago that Bitcoin price will hit 10K USD at the end of January or at the first of February! Is Bitcoin price predictable now guys? So, what is the next target? 12K USD? Please share your opinions.

Before we dream about the $12,000 Bitcoin value, we should first monitor the movement of the price of Bitcoin, its pump and pull backs. If Bitcoin would reach $11,000 value this month, this would be a great sign for the $12,000 value next month.

So far, I don't see a dump this week, Bitcoin's momentum is strong, its rising might become slow but, it won't dump and would certainly retain its market value.

[Botnake]

how about $11k first, then $12K, we will  follow the trend of the market since thus far, bitcoin price did not jump with that kind of pace.
Bitcoin now at $10,000 is a good news but are we sure the bullish movement will continue? of course not, it could possibly go down again then we will all the hype will be gone, I mean its still too early, let us not be too overconfident, we will get their at the right time but the price needs to correct first IMO.

[Latviand]

12K USD is not that far to achieve. Bitcoin price can go there even in this month. But by looking at the price chart,  I feel the price will dump now, after going 10500 to 10700 Bitcoin price will come back under 10K USD! So, 12K USD is not possible in this month, you never know what gonna exactly happen.

You have said it already that we do not know what could happen. The market behavior at this moment is really exciting and at the same time, worrisome. The market price could again fall in a sudden if that would happen, we cannot tell when will it go up again. These assumptions are due to what happen before, wherein the market price gone continuously falling.

I feel bullish right now, Bitcoin price overcome the 10K USD zone after a long time! I predicted this two weeks ago that Bitcoin price will hit 10K USD at the end of January or at the first of February! Is Bitcoin price predictable now guys? So, what is the next target? 12K USD? Please share your opinions.

Well it is obviously not, still. What we are seeing is just a part of the market volatility in nature and we do not still know what may happen at the end of this month and what could halving bring to this industry whether it would be a good thing just like before, or not. The only thing we can do is to patiently wait and to avoid hasty decisions.

[Oasisman]

I feel bullish right now, Bitcoin price overcome the 10K USD zone after a long time! I predicted this two weeks ago that Bitcoin price will hit 10K USD at the end of January or at the first of February! Is Bitcoin price predictable now guys? So, what is the next target? 12K USD? Please share your opinions.

Just because your prediction happened means Bitcoin is now predictable. Of course anyone could predict a positive outcome knowing there's a big event coming in that could potentially make the price surge to new heights.
Bitcoin is still very unpredictable, the only thing that could be easily predicted is the price pull back everytime Bitcoin breaks the resistance level, just like what I said in this thread https://bitcointalk.org/index.php?topic=5224108.msg53800489#msg53800489
By the time im typing this, Bitcoin is at exactly $9,938.23.
Nevertheless, we will be seeing more than $12,000 in a few months now.

[NeuroticFish]

By the time im typing this, Bitcoin is at exactly $9,938.23.
Nevertheless, we will be seeing more than $12,000 in a few months now.

Yup, the first step is not 12k. The first step is securing 10k. We can talk after 12k if we don't fail to secure the actual gains.

And to OP: please stop dreaming of unrealistic bubbles every time Bitcoin rises a little bit. Just HODL and chill.

[BlackFor3st]

I feel bullish right now, Bitcoin price overcome the 10K USD zone after a long time! I predicted this two weeks ago that Bitcoin price will hit 10K USD at the end of January or at the first of February! Is Bitcoin price predictable now guys? So, what is the next target? 12K USD? Please share your opinions.

Yeah we are moving upward steadily so the market is a little  bit predictable if this will continue. We can expect 12k at the end of the first quarter or by the 2nd quarter of this year.

There are little setbacks of prices so we can expect that it will take like 2-4 months before we can break the 12k USD barrier price. But if the demand will skyrocket then we can expect a bullish price in just a short period of time. Like 12k will be hit in less than 2 months.

[STT]

There yer go, its done on cue a small sell down to previous support levels:



2 day average of the blue line, see if it can form further selling or recover and confirm that support as a new recent low for a wider time scale.