Some twist in take for BTC what's next?

[buwaytress]

The surprise for me was perhaps that the 17.2 wall was broken and yet the expected slide farther down didn't.

Instead, there was still enough momentum to take it through to yet another ATH for 2020. And already we are spending more time in this 19k range than 2017, so there's definitely something afoot.

4 weeks is a long, long time!

[pooya87]

The surprise for me was perhaps that the 17.2 wall was broken and yet the expected slide farther down didn't.

It has always been about what market trend we are in at the moment price drops. During a bear market or even during accumulation phases any drop can cause a bigger panic sell that can get out of hand. We've certainly seen this during the $6k to $3k drop which was ridiculous (accumulation phase).
But now that we are in a bull market with a strong momentum, pulling the price down is extremely hard. A 10% correction is literary nothing in bitcoin market.
Besides the only reason why price isn't going above the arbitrary number $20k is because it was the previous ATH otherwise price would have been at least $25k by now.

[FanEagle]

I have been watching the price of BTC from couple days after it broke the 15k barrier and I thought the next thing would be 22k, as days are passing somehow it's slowly pumping up and it was ready to break ATH unfortunately it failed and again it crossed 19k and went down. Is their a dump in upcoming days or pump? I am just curious to know about the next price of BTC, share your thoughts

I would say that there is a big pump coming very soon, people are ignoring the fact that whenever bitcoin had a huge increase and stopped, it followed by a huge increase, that is the way bitcoin has always been and this means that we are going to have a huge increase very soon as well. When it crashes, it doesn't crash after a big stop, or not after an increase neither, it happens out of nowhere and happens very fast, if it were to happen it would have happened already and it wouldn't have stopped at small number neither.

Just because it goes from $19k to $17k doesn't mean it is a crash, a crash is properly screwed price, like from $19k to under $15k and continues go down few hundred per day for a week too and even longer. So at the end of the day I do not believe that crash is near at all.

[pixie85]

Makes me wonder why are you waiting for a pump or dump OP? Why can't it slowly continue its way up? Why does it have to be a volatile move?

What you're seeing is normal. The price went to 18500 - Nov 18 and faced a resistance, then 18900, again went down as traders took profit, 19400, again the same thing, 19800, again...

You can see 3 things in this behavior.

1. Price reaches new highs after each correction
2. Price corrects every time it reaches new high
3. We are still below 20 thousand. I wouldn't expect great volatility until we pass this level.

[Jating]

I think we are still the bullish flag though,

- price seems to be bouncing around $19k levels. If we can maintained this level, this is already a win for us.
- if we go to $19,500, then we should expect around run to $20k.

Worth to mentioned though that the trading volume is low, but I think this is a sign that something might brewing up in the next coming days. Sort of calm before a storm, so there is still that big possibility of a break to $20k++.

[daarul50]

I think we are still the bullish flag though,

- price seems to be bouncing around $19k levels. If we can maintained this level, this is already a win for us.
- if we go to $19,500, then we should expect around run to $20k.

Worth to mentioned though that the trading volume is low, but I think this is a sign that something might brewing up in the next coming days. Sort of calm before a storm, so there is still that big possibility of a break to $20k++.

Indeed we are.
But you cannot avoid the fact that market response seems showing us how investor a little bit got the panic attack after several time we have been rejected to get through the 20000 usd line.
There always a possibility both to go downhill or unstoppable bullrun , but at this moment it is okay to be a little pessimistic right?
The situation are not fully support us to move furtherfaster, everything slowing down and it was for a reason.

[maxreish]

The bitcoin graph is so tricky. I know how you feel watching the btc price and expecting it to go smoothly up to $20k or above and yet it failed to accomplish that price. As I can see it, though $20k is soon to achieve but barriers like correctiond and pull back are still doing these slow progress.
 
 Be optimistic and let us see this slow movements going forward to the new ATH.

[blckhawk]

I have been watching the price of BTC from couple days after it broke the 15k barrier and I thought the next thing would be 22k, as days are passing somehow it's slowly pumping up and it was ready to break ATH unfortunately it failed and again it crossed 19k and went down. Is their a dump in upcoming days or pump? I am just curious to know about the next price of BTC, share your thoughts

Simply because the resistance is strong. As soon as the price went up to $19 USD and more or less reached the last ATH, people tend to liquidate their holdings, perhaps in the fear that it would repeat as we had in 2017.
Right now it is playing around $19k USD with no signs of pump or dump so we really had no idea what will be the next move. But I don't think the run is over it might only be getting started. For certainty, you could somehow liquidate a fraction of your holdings by that then you could mitigate the risk of getting a loss.

[pooya87]

Worth to mentioned though that the trading volume is low, but I think this is a sign that something might brewing up in the next coming days. Sort of calm before a storm, so there is still that big possibility of a break to $20k++.

Trading volume is actually quite high, you shouldn't compare it with the time when price is shooting up or crashing down. It is obvious that at those times the volume increases a lot more. Instead you should compare the volume with other times when price becomes stable and has smaller ups and downs indicating an accumulation phase.
Compare to that, about $100 million volume on each small exchange like Bitstamp when price is barely moving is a good indication of a strong accumulation going on.

[Noctis Connor]

I have been watching the price of BTC from couple days after it broke the 15k barrier and I thought the next thing would be 22k, as days are passing somehow it's slowly pumping up and it was ready to break ATH unfortunately it failed and again it crossed 19k and went down. Is their a dump in upcoming days or pump? I am just curious to know about the next price of BTC, share your thoughts

Well bitcoin price is now is at 19k USD this could be a possible increase more than we expecting before christmas or before the year ends it is slowly pumping because people are holding now because they knew that after the break they think that it will grew more but not, people are just thinking about what profit will they make and not wasting their investment , they playing safe mostly , as you can see in trading volume is very high and trying to balance everything but bitcoin will be at the price of 20 dollars by christmas and i am sure of it.

[DU18]

I have been watching the price of BTC from couple days after it broke the 15k barrier and I thought the next thing would be 22k, as days are passing somehow it's slowly pumping up and it was ready to break ATH unfortunately it failed and again it crossed 19k and went down. Is their a dump in upcoming days or pump? I am just curious to know about the next price of BTC, share your thoughts

Well bitcoin price is now is at 19k USD this could be a possible increase more than we expecting before christmas or before the year ends it is slowly pumping because people are holding now because they knew that after the break they think that it will grew more but not, people are just thinking about what profit will they make and not wasting their investment , they playing safe mostly , as you can see in trading volume is very high and trying to balance everything but bitcoin will be at the price of 20 dollars by christmas and i am sure of it.

looks like the new year and christmas will be a good momentum for btc price hikes, as some events like the launch of ethereum 2.0 and several other crypto events will certainly greatly influence the future market movements, but now it looks like btc is getting a very strong wall at $ 19k and it causes the current price rally to continue, but if indeed BTC is able to destroy the wall, it is certain that the BTC price will be able to break the $ 20 price even more

[el kaka22]

I do believe that in 3 weeks that is left for us, it could be a very boring one or it could be very crazy one and we do not know which one will happen. Just to give you an idea, we could potentially be involved in a situation where it could be 20k+ very soon, and go even higher, or we could be going down a lot, or we could potentially stay at this price for the next 3+ weeks and not move at all until new year.

We really do not know, we have seen bitcoin stay around the same price for months before, during the 10k period we have stayed around 10k-12k range for over 2 months for example, which was definitely awesome that it didn't went under but it was also boring and there were no profits to be made that way. Hence we can't really know whats going to happen now.

[jseverson]

looks like the new year and christmas will be a good momentum for btc price hikes

If memory serves me, the only time there was a sizeable rally over the holidays was back in Dec 2016 - Jan 2017, so I'm not so sure this is going to happen. People do spend a lot of money over this period, but typically on holiday stuff; I imagine Bitcoin and investment in general would be pretty low priority for most. I suppose you could make a case for COVID bringing extra money though, considering most people won't be able to spend on parties and travels.

Honestly speaking though, it doesn't seem like prices are being driven by retail investors anymore, so maybe timing doesn't matter at all anymore; if a big player does something flashy, we're all having a holiday feast.

[Ridwan Fauzi]

Honestly there is no who will exactly know where bitcoin price will move. A month ago bitcoin price was increasing and forming bullish engulfing candle which can give an indicate that the price will up in the next candle. But who knows, until now in the early of this month bitcoin price just decreasing and has been passed 38.2 % fibbonaci retaracement.

But, we have three weeks ahead to fix this situation, perhaps there will be many information who will push bitcoin pricr up again especially from the stimulus factor. Moreover with some information who stated that the cases of corona virus increase again there will be many possiblities for the situlus will be issued. However, buying bitcoin at the current price will have a big risk to loss, we may need to see some confirmation first that the price will up again then we can buy again to see $20.000 will be passed.