New ATH then correction of 35%+

[smoothie]

You heard it here first.

 



edit - Looks like an ascending triangle is forming on the 1hr and 4 hr charts. You heard it here first!

[xhomerx10]

You heard it here first.

 

 Quoted for posterity.

 Care to speculate on the possible value at the time of the dump?  It would suck if we were to see $19667 followed by $12783. 

[smoothie]

You heard it here first.

 

 Quoted for posterity.

 Care to speculate on the possible value at the time of the dump?  It would suck if we were to see $19667 followed by $12783.  

Quote for "trollery".

Seriously, No clue. Price and time getting it right is near impossible.

I'm just speculating on the move in price, not the time frame.

[magneto]

Wouldn't be surprised.

There is already a lot of FOMO and markets have been rallying for months now. I don't think that this is sustainable. The correction could even come before the ATH to flush out the weak hands.

Long term prospects for BTC are bright as ever, but when you have mainstream media covering stories like Citi's leaked predictions of a $300k BTC, you know that likely people are no longer thinking rationally within the market. And that's when these adjustments hit most often.

[xhomerx10]

You heard it here first.

 

 Quoted for posterity.

 Care to speculate on the possible value at the time of the dump?  It would suck if we were to see $19667 followed by $12783.  

Quote for "trollery".

Seriously, No clue. Price and time getting it right is near impossible.

I'm just speculating on the move in price, not the time frame.

 Damn my alt is funny

[STT]

I dont know or care that much about ATH as its just headline action not the bulk of what matters but more recent then that it formed a lower high on a closing bar basis and now its challenging the channel up for most of this month.   This might take the next month to decide and I think the main market traders who are closed over the holidays will be glad to be out of it till then hence weakness from a departure by some is fair game.

Here is BTC on 5 minute bars hitting the bottom trend of the channel to bullish price over the last month so its a good bounce but I think the longer term we'll have to revise and reformulate any continuation of the bullish trend.    A 35% correction is not a big deal, that might be whats happening but for the moment its still short term formations.



Target to beat just for watching I think is 18k then 18.5k and ideally we take 4hr bars for proper solid movement.

[LogitechMouse]

You heard it here first.

 

It barely reached the recent ATH last 2017 and right now the market is in a correction phase right now.
$17,898.01 is the price of Bitcoin a while ago and as usual all of the altcoins followed its movement (or possible some did the opposite).

Either way, a correction is needed in every market and TBH I don't really care if it goes beyond its ATH or goes to a correction. Expect for more further downside movement in the next hours or days .

[adaseb]

When it had a double top at $19500 it was a sign that it might not break ATH this time around and now we went to the low $17ks already.

I am not surprised, this was pretty much the max pain spot since people basically sold way too early at $14K and most wanted to sell at $20K or something like $50K or $100K. So the market does what the market does best, disappoint the majority of investors.

[btc78]

You heard it here first.

 

Sad but happening now that the market is again in Bloody situation though I'm lucky and great as i have sold my Ripple at 0.72$ per coin so now that the value is 0.56$ i will wait if this to fall atleast around %0.40 cents and i will buy back all my investments.

Bitcoin and ethereum is what i'm concern because i keep the holding so hopefully this correction won't continue to Bear.

And the December is what we have to decide,though i can still hold upto when the right time come.

[exstasie]

You heard it here first.

Nope, lots of people have been planning on that scenario. Now that we've seen a double top at $19.5K and a 16% drop so far, it's beginning to look like the shakeout is coming before a new ATH.

Everyone ready to buy the dip?

[error08]

When it had a double top at $19500 it was a sign that it might not break ATH this time around and now we went to the low $17ks already.

I am not surprised, this was pretty much the max pain spot since people basically sold way too early at $14K and most wanted to sell at $20K or something like $50K or $100K. So the market does what the market does best, disappoint the majority of investors.

Mmm the time has come, as expected bitcoin may encounter a resistance level at $19,5k-$19,8k. Yesterday we thought BItcoin will break the new ATH soon but today it falls 16% to $16,3k because billions of dollars get liquidated from exchanges which Binance is the highest worth about $840 million. If Bitcoin would actually fall by as much as 35%+ then we can expect it to plummet to $12,6k within a few days. However, bitcoin seems to hold its position above $16k and gradually recover to $17k at the moment, has the correction been ended with only 16%? is it just a minor correction to create fomo among weak holders?

[Oasisman]

I am not surprised, this was pretty much the max pain spot since people basically sold way too early at $14K and most wanted to sell at $20K or something like $50K or $100K. So the market does what the market does best, disappoint the majority of investors.

I think half of these people are very bullish and are waiting for Bitcoin to reach the $20,000 mark, and half of them are looking forward for the correction (those who have sold earlier I guess.)
Nevertheless, this will put a lot of people into disappointment. At the current price of $16,000 by the time I'm typing this is still considered as expensive buy, So a further dip might be happening next, or the other way around.

[Questat]

There's no $20,000 now, the correction has started and I think bitcoin will dump more, it's not over yet.
IMO, the best price we would see by the end of the year is $15,000, sorry for ruining the part, that's just my honest opinion.

[cryptomaniac_xxx]

There's no $20,000 now, the correction has started and I think bitcoin will dump more, it's not over yet.
IMO, the best price we would see by the end of the year is $15,000, sorry for ruining the part, that's just my honest opinion.

Nothing wrong with bitcoin closing this year at $15k, still a good price to be honest, from lower low of $3k during March's panic and ending at that price, its 5x. The price continue to slump but somewhat recoverd around $17k but I think we will see more sell-off in the next couple of days. Not sure though if it can go as low as $12k because if that happens then others might doubt that a new all time high can be reach at the end of the year.

[Scripture]

You heard it here first.

 

We didn’t touch the new peak yet so I’ll not agree on this one.  
The market is on its way down again, someone has to stop the correction and continue the uptrend, I’m still optimistic here because I bought some at the uptrend hoping to get at least a short profit, so this must not the end for me, haha.  

[goaldigger]

You heard it here first.

Nope, lots of people have been planning on that scenario. Now that we've seen a double top at $19.5K and a 16% drop so far, it's beginning to look like the shakeout is coming before a new ATH.

Everyone ready to buy the dip?

This is our moment to collect good staffs again and never miss this chance, anyway the trend is still better since Bitcoin price recover from a $16k correction easily so that means to me that we are indeed heading the peak price. We learned from the past and use it on a time like this, let’s not make any fun here and have your serious strategies in buying and selling.

[buwaytress]

20k will be a new ATH, as will 50k;)

@exstasie: totally ready... except since I'm earning anyway I'm going to be hoping this dip worsens over the next two weeks, and I'll invoice the hell out of my clients =p

I wonder if anyone "trades" like I do haha. I haven't timed by invoicing and Bitcoin sells for a long time until the past 6-8 weeks or so haha, so far to success =p

Damned if I'm not enjoying it.

[dothebeats]

You heard it here first.

 

Not quite 35% on the downwards movement but we're getting there, and it seems that the sell-side of things have been aggressively putting the numbers up within the last few hours. A retrace to a more comfortable position for buyers is literally just around the corner, perhaps $14000 - $15000? I'm throwing random guesses out here, but these levels are more likely to prevail within this week or next few weeks considering that most of the buy walls are aggregated at this price currently.

[FanEagle]

At least OP is honest about what he is saying. He said he is just guessing and nobody can predict it correctly because we have no idea whats going to happen, and I agree with him. I do not agree with him on the new ATH and 35%+ correction part because we do have corrections, here we were in one of the corrections right now and it wasn't nearly at 35% levels, this was more like 10% correction give or take and I would say something similar may happen as well.

For example reaching to $22k and than dropping to $19.5k levels could be pretty simple and realistic as well, I am not sure if it would be exactly those numbers but I am sure it will be something similar to that at least. The price will probably have a correction of maximum 20% and probably not even that much.

[hisslyness]

You heard it here first.

 

Waiting patiently for this 35% dip.....