Bitcoin can fall up to $9k or rise up to $17k - which one will happen.

[Yamifoud]

A person who has said this is also not sure what will happens next (as we'll live that though). Similarly, we all have the same speculations citing for another pump or worried about dumps that will follow after this huge increase. However, I keep believing that the market will continue to move high and reach $15k, $17k, then...rather think a dump will show up $10k, $9k.

What the news says is also pure market speculation, the up and down of the market price is always happening. That is why people got into FOMO because of these unreliable resources, fake news, and many more that affect the minds of all crypto holders. That is also a reason why I don't give more time to hearing the news but rather to watch the market changes. It is enough to know where we go (probably).

[InvoKing]

That is also a reason why I don't give more time to hearing the news but rather to watch the market changes. It is enough to know where we go (probably).

Even watching market changes doesn't help a lot. Sometimes the news don't have any influence with the bitcoin price, other times its effect isn't that big.

[beerlover]

"Fall up to"? Something doesn't fall up, it falls down. Aside from that I agree that $17k would be the one that could happen right now if you ask me. I know that $9k is quicker and easier, just bunch of bitcoins sold in the market could cause it to go down, when there is a chance that some bitcoin owners wanted to sell and when the market doesn't want to buy from that level the price would go down, that way it would go down very easily.

However going up requires a lot of new money to come into the bitcoin world which would be a lot harder. That is why $9k looks easier, but just because something is easier doesn't mean that it is more possible, we have seen bitcoin price going up before haven't we? We have seen it before and that is why I agree that bitcoin price would go up even though it is tougher possibility.

[enhu]

The previous resistance is usually going to be the strongest support after the breakout, this $12k I think is a strong resistance for now. If it really will go up to $17K soon and drop. It might just be on the $9500-9700.

That's a huge gap, I'd probably expect the higher leap also when it goes back up when it once again break the $12K resistance but this is always going to be speculation that will condition our minds.

[tomahawk9]

Whales trapped bulls after breaking 12k resistance perfectly. After that event bitcoin looks weaker and weaker with every hour. I expect bitcoin to test 10-10.5k before even trying to go up.

https://i.imgur.com/IUBYCEM.png

IMO, there's gonna be a lot of support around the 11k range. Last week, after testing almost 12.5k, price went down to 11.5k but quickly bounced back. A week before that we also tested the low 11k's for a bit, and at the beginning of the month, after the massive spike in the price towards 12k, there was a drop but it stopped at 11k. I have a feeling 11k is gonna be the new floor from here on out

It is like the other articles that have a say in the price of bitcoin. In whichever level of the price we are with, the same speculations are coming from this to that. Saying that price could go as high as this xx amount and could go as low as this xx amount.

$17,000 is very plausible and it could go as lower than $9k.

200 IQ post

[HiringYou]

I think both the outcomes have same probability.It can even reach $17K  as this year has been quite a good year for bitcoin till now so more growth can be expected  or it may even drop to $9K as the price is somehow stuck below $12K from last few days .So it is  difficult to predict exactly that what will happen in the coming days.It is also possible that soon a drop will be observed in the price and afterwards it will rise again.So let's see what will be the situation in the coming days.

[Oasisman]

However it’s pertinent to note that if bitcoin prices slip from the support level of $11.2k, then there’s a high probability of bitcoin prices slipping back to $9k levels.

Yes, this usually happens everytime Btc hits a maximum range, there will be short pull back or worse a correction below the support level. But that doesn't mean It would happen automatically. Everything still depends on the sentiments.

Lastly I know that it’s really difficult to predict where bitcoin prices may head, but what are you’ll opinions on this article and which prediction do you think we will witness in the short term?.

I would definitely not going to look at the short term perspective of Btc's price range, but rather I'd be more attentive in a long term output. If Btc reaches $17k in a short term period, then that means most likely Btc will be valued more than that in the coming months.
Nevertheless, the article says a more realistic range in a short term period Btc price movement.

[LogitechMouse]

As long as Bitcoin will not go to its 200 MA which is sitting at around $9k right now, I will be bullish and will lean on to that $17k price.

My prediction for short to mid term is that if Bitcoin will go below $11,000, chances are it will go below $10,000 and going even below $10,000 is the $9,000 like what you said and on the other hand, if Bitcoin will pierce and closes above the $12,000 for a few days, chances of going up to $17,000 is higher or it will not reach $17,000 but at least near that price.

Whatever happens, just be ready in both situations .

[piebeyb]

Looking at the price charts and as usual I use the MACD indicator and the weekly StochRSI I see that in the next few weeks there will be a price correction, but if it holds and doesn't go below $ 11k, chances of the rally will continue advancing higher, but if it goes away below it will probably be lower, so just wait about the next 1 or 3 weeks

[Raflesia]

We may see the rally upwards once we can break this 12k price levels and then may be 13k would be easy to achieve it. But currently it is in between 11.5 to 12k price and finding it hard to break that 12k. It had tried couple of times and had fallen back but good thing is that it had bounced back from those fallen levels and keep moving upwards. So more inclined towards 13k rather than the fall.

Previously, bitcoin was also in the range below 10k but to try to redeem it takes time and of course in the end it can redeem and stay at the current level, now strong in my analysis we are now at 11.6 that's just a little bit of 12k in the analysis we can reach it in the near term and continue to go higher 13k maybe in a few months, but still now it won't be too bad a bear market.
This continuous pumping will be a lot of positive thinking and will not panic when things are not desired.

[YOSHIE]

According to this Cointelegraph article (link below) Bitcoin prices have the potential to reach either up to $17k levels or fall back to $9k levels, and it all depends on whether bitcoin prices can breach the $12k level mark or no, because if bitcoin prices manage to breach those levels then it has the potential to rally upwards and reach up to $17k levels.

I am not sure Bitcoin fell again to the 9k position, strong suspicion Bitcoin can go up as the OP said.

Many things and the causes can be one of them (halved), or there are other factors.
Currently it is still at the $ 12000 level, to break the $ 17000 level, it is very easy, in my opinion.

[Ridwan Fauzi]

On the daily time frame bitcoin's price has touched the resistence $12.341 and seem like the decreasing price right now just a retracement and still have a chance to go up to $13.900 as a nearest resistance. But yeah, if we see the current sentiment market bitcoin's price and most altcoin's price are decreasing and it has happened to gold price movement. It could fall to $9000 but there will be many trader/investor who buying it at the lower price because most likely we are still in the uptrend market.

[Kelvinid]

On the daily time frame bitcoin's price has touched the resistence $12.341 and seem like the decreasing price right now just a retracement and still have a chance to go up to $13.900 as a nearest resistance. But yeah, if we see the current sentiment market bitcoin's price and most altcoin's price are decreasing and it has happened to gold price movement. It could fall to $9000 but there will be many trader/investor who buying it at the lower price because most likely we are still in the uptrend market.

We can not lose the possibility that it dumps anytime, we have witness this often and expectedly the market sentiment will remain like this. We find a straight uprising trend since we break the $10,000 resistance and continue to move higher reaching $12,000. The confidence that we move farther from this position is quite unclear, but somehow we are still positive that the momentum won't stop.

We can't deny that even the price trend keeps climbing but we can't also lose our worries that anytime soon the dumps will show up and bag holders will sell their coins at a cheap price. We can not certainly deny the fact that and things possible to happen but above all, I'm not thinking that we dump badly and goes down to $9,000.

[coin-investor]

Either way could happen so far the price is having a hard time gaining enough support to break the $12k barrier, still too early to tell I have confidence that we will eventually reach the $12k level and eventually $17k mark, this is the time that people are on a buying spree in preparation for the coming years, like what happen last 2015 to 2017.  

[Eugenar]

Whales trapped bulls after breaking 12k resistance perfectly. After that event bitcoin looks weaker and weaker with every hour. I expect bitcoin to test 10-10.5k before even trying to go up.



Testing this trend line (and even fake breaking it to trap bears this time) is very possible. After that bitcoin can continue to grow.

To sum it up, no one really knows what could happen next. The market price is quite stable at a certain point which makes it hard to expect for another price increase. To be honest I do expect a price correction on the following days simply because the rate of increase in the recent pump, is a bit fast, for the price to have a consistent uprise movement. In short, there is a chance for a correction to occur and no one knows when will it happen or if the opposite will occur, such that the price will again break the resistance. Maybe, waiting for a little longer before making an action, will be more advisable than to either invest or sell at this moment.

[proudhon]

I keep repeating it, and I'll keep repeating it -- over the long term bitcoin will not be able to sustain prices above $10k. We'll be back under before the end of the year. Probably bounce around for years while generally moving down toward $1k. Clear as daytime light.

[STT]

fall back to $9k levels

I placed a bet on 9k fall previously, Im about to be proven wrong because its not moving as fast as I bet.  Thats just gambling and equates to a guess, nothing wrong with that and I dont expect accuracy in perfection.

Testing this trend line

2 points touching on a trend line makes it low confidence, we'll hold something better when its been tested and held half a dozen times previously.   The reason 9k over 17k would be gravity mostly, not only is 17k further away its likely harder to get to then the simple process of people cashing out previous gains.    Theres always a balance as well as momentum to the price, we need more demand and less supply for 17k I think.   It will happen over time so long as population in BTC keeps increasing but people grow impatient and move on besides that some are leveraged and must repay borrowed money so we call this hot money as its not held.

[justdimin]

This doesn't really gave any sort of date though, did it? I didn't see one. So that means $9k and $17k both will happen I think, price will eventually hit to $9k, maybe not tomorrow, maybe not in 6 months, maybe not in few years, but EVENTUALLY it will reach to $9k, that would happen. On the other side of the story, $17k will happen as well, that will happen with the same logic as well, it will go up maybe tomorrow, maybe in few months, maybe in years but it will reach to $17k for sure.

So, there is no doubt that price will not go up, it will eventually both go up and down. But, if we really want to make sure which one will happen next, I agree with that next looks like $14k or so, that is a lot more possible, it is close enough to make it realistic, other options are wee bit further away.

[NotATether]

Expect this brief rally to end soon, RSI is close to breaking the upper limit and the 55 period MA is about to cross the 25 period MA. At best we can be optimistic and hope it enters a sideways trend like it did during August 24.

[gentlemand]

17 grand seems like a kind of meaningless figure to me. I would've thought the space between 14 or whatever the previous high was and the ATH is open country.

Since it seemed very, very comfy around the $9000 level a return to that seems vastly more likely. I don't think we get any novel action until the start of next year but maybe the end of this one will provide some fun.