Was 22.3K the correction?

[Phantom Investor]

Was that price the correction or are we expecting it to hit 20K?

[cr1776]

Was that price the correction or are we expecting it to hit 20K?

No one knows.  If projections are accurate, in the long term, whether you bought at 20k or 23k won't matter.  Trading and market timing are rarely successful over long periods of attempting to do it.

It didn't help that Grayscale halted new Bitcoin Trust inflows (it happens sometimes). [ https://www.coindesk.com/grayscale-halts-bitcoin-trust-investments ]
Craziness with the coronavirus in England didn't help.

So those are likely some reasons why there was a drop today, but everything is really just a guess.

[Fredomago]

Was that price the correction or are we expecting it to hit 20K?

Correction ? I don't think so ,maybe its better to called "COLLECTION" because surely some Holders are now Collecting their Profit from the Bullrun for the celebration of Holiday season.
That's why there is only Lower Cut compared to the Dump happen week ago.
Bitcoin Did the Job Well for Hitting 24,000$ and if there is some small correction that's Normal for How much had the Run since November .

[STT]

I think it was the news of the stimulus or bail out money deal and it was less then expected but either way prices pull back normally.



On 1hr bars we got 2 day average in blue capping us overhead for momentum and below is yellow the weekly average.   The other lines are our progress relative to the initial high and quick sell off on this move first occurring, we've been retracking since then.    We hit the low price earlier, regained it within the hour and then held this line to confirm action so we've risen from lows as support.    I think OP 22.3k is a good area to watch for being lost or not in terms of weakness.

[jossiel]

Was that price the correction

Maybe.

The price recovered already and it's $22,800 as of time I'm posting this.

are we expecting it to hit 20K?

We're all expecting both ways, positive and negative. We can speculate about it positively because it just went through a $1k+ correction. Then, we'll see it back afterwards because that's the natural reaction of bitcoin whenever it plummets. Rush buyers would come and won't waste the opportunity when it corrects.

[acener]

It is still hard to tell if it is really the correction or the people who have been holding for long is now taking their profit.
But I don't really think that it is the correction,
But if it is the correction would we see the market continue to move forward?

[Swordsoffreedom]

Look at the RSI, it is giving a more meaningful answer, when we touched the new ATH the market moved backed to the local support line several times and RSI reached on overbought area, which means bear is trying to take control. Now the market broke the local uptrend line 23300 and bounced backed from 22300 which gives now strong support. if the market break this support then we should be ready for a downward movement towards 20k.

[Searing]

Was that price the correction or are we expecting it to hit 20K?

probably for now..but remember Bitcoin 'loves' to go sideways for 1/2-3/4 a year at best ..if not down...also it loves 30-35% price corrections in the down column as well...

Bitcoin..you 'merciless bitch' will even go down as low as 75% just for giggles a couple times. So the ONLY WAY to compensate for this volatile and complex speculative asset

is to just frigging HODL for no period less than 5 years, and I'd only do that in a real fiat or USD real life emergency or better yet 10 years. The 'long game' is the only way

to play any kind of speculation. BTC/Crypto is NOT an investment..it is speculation..it could go down 1/2 due to adoption worldwide and act like a traditional investment..it

could stay at current price now due to adoption and act like, again, a traditional investment of 1-2% per year or it could do what it has in the past and go from $22k now

up 5x/10x/16x etc. There's the fun don't ya know. Sell crap out of attic you may die will on eBay and buy Bitcoin.....what the hell, at worse you have an empty attic and

a rec room and your house goes up in value $15k or some such. But don't stop buying BTC dust at $22k BTC prices...because what are you gonna do if in 8 years it is $100k.

But Bitcoin will go down at least 30-35% this winter of 2021..count on it too much is screwed up ..IMHO everything will take a haircut from stocks to whatever 30-35% in

that the world is fighting a pandemic and recession and just plain, in the USA anyway, undoing IMHO a catastrophic last 4 years under Trump Administration and needs

a complete reset in that area as well. The sheer amount of work and uncertainty and 'adult'ing' or being an adult and stepping up to all this is gonna cause a backlash

of reality to folks.thus, again, I think everything is gonna take a haircut above. So do all such BTC/Crypto purchases with a 10 year plan or 5 years if you have real life

issues, like medical and have to sell some. Remember Bitcoin goes down like an elevator and goes up like your taking the stairs on crutches..it just is how it is...and

I point to our last pump to current ATH as proof!

Bitcoin: "You merciless Bi-Polar red hot mess bitch! Damn, your fun!"

Brad

[Wysi]

I think it's correction period and it's not going to stop here we might see more fluctuations in upcoming weeks and it's not new, this happens in the last week of every year, I just hope we don't face one more downfall which we faced towards the end of 2017 and begining of 2018.

If the value of Bitcoin drops below $20k before the end of the year then we are in trouble.

[dunfida]

Was that price the correction or are we expecting it to hit 20K?

Price correction or pullbacks are pretty much the same but asking on how deep it would be then that would always be a question of all that cant really be answered
but somehow with some help of technicals then you can presume out on where could possibly the price be ending up in case for some price pullbacks but always
put up in mind that it isnt always accurate nor precise when it comes to technical analysis but at least you do make out some presumption due to some basis
rather than on blindly presuming without any having done some plotting.You can always set on your own buying point.

[Jating]

Was that price the correction or are we expecting it to hit 20K?

Currently the price goes down slowly to $23k, but we can't really tell what will be the next support level with this retracement, (yes, I'm seeing a correction already). But then again, with an asset that is very volatile as bitcoin, there's no way we can see what will be the price correction.

It will keep fluctuating, until a certain period, and then stop, trading sideways, and then a bounce back that is higher than the previous price. We are waiting for $25k to be breach at least at the end of the year, so let's hope and be optimistic that we can get to it.

[thecodebear]

It quickly went back up to high 22's and low 23's after that dip to 22k. But I would expect a correction back to $16k - $18k range, just to check back in one more time with where those dips from $19k were establishing support in that range.

I'm guessing January will be down for Bitcoin, then February it'll come back up to current price levels and start pushing beyond.

Also Grayscale has stopped buying Bitcoin for now. I think maybe they take a break for a few weeks once every 6 months for I dunno some sort of accounting or business reasons. So that like $200+ million weekly of Bitcoin being taken off the market by Grayscale won't be happening for probably the next few weeks. So if the price is going to correct further downward, the next few weeks is the best bet, before accredited investors start scooping up 9 figures USD of Bitcoin through Grayscale every week again.

[Reatim]

Was that price the correction or are we expecting it to hit 20K?

One thing is Sure ,We are expecting Christmas  and Newyear lol.

Why always asking when the price goes down But never Do the same when the price is bullying.
Crypto Is a volatile market and we don't know what's each others plan In their investments and holdings.

If you are not ready of being Stocked then never Invest in Crypto at all ,Because this market is for risk taker and has a Patience .

[exstasie]

No. A 10% dip is definitely not the correction.

When price is crashing below $19K, that is the correction.

Call me old fashioned, but until we see a 30%+ correction, the prospect of one is like an ominous cloud hanging over the entire market. It's coming, the only question is, from where? $24.3K or somewhere else?

[mich]

Was that price the correction or are we expecting it to hit 20K?

Hopefully this is the case and we can expect another Bull run before taking more losses in the price. 
If this is the case then we are looking at a correction of only 2k which is much lesser than other corrections in the past. 
Let us hope this is the case but I still fear a correction period where we see the price of 1 Bitcoin drop to below 20k.  Or even my worst fear of below 15k.

[STT]

We're back to the top rung of the ladder again, its actually surpassed the daily trend or channel once again.   So the initial fall on Monday reversed while getting close to the lowest bullish trend and a few hundred off weekly average; both of which I would consider the real tide line for our direction over a larger view.    It failed to properly break pricing down further then just profit taking, no real damage done to the speculative trade, the momentum of monetary flows in etc.   Its once again back to beyond expectations in performance, all rockets fired on basically.

[rodskee]

Was that price the correction or are we expecting it to hit 20K?

i have crossed this Post recently https://bitcointalk.org/index.php?topic=5302648.msg55905082#msg559050 indicating that Even how high bitcoin price now yet investors are keep on coming .

this means maybe that 22.3k is the correction or something lower will come first for the preparation of the 2021 real Bull run.

If those Big companies really showing interest and proving by buying in the hype so what more small investors and businessman ?

the opportunity is knocking at their doors now and seems like they are grabbing it.

[UnDerDoG81]

Was a lame try to spread panic and drop price due to the scamdemic 2.0 in England...

[Ridwan Fauzi]

Was that price the correction or are we expecting it to hit 20K?

Indeed, on the lower time frame, $20.000 is strong support, you can see it on the hourly time frame. But, in the high time frame weekly on monthly the strong support is on the $12.000 barrier which I think if the current bull run market same with the previous bull run (2015, 2017, 2020) its price will fall to $12.000, yeah not bad since the previous bull had made bitcoin price touch $3000 as it all time low.

[LUCKMCFLY]

The correction now turns out to be somewhat complicated to forecast, in the world a new strain of the virus is now being put, this can cause some panic, some countries are already closing borders again, everything would be a matter of waiting, really the price per now the Bitcoin one is very good.