How low will BTC go before the next leg up to 45-50k??

[fojomo]

I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?

I am thinking around 20K.

Any guesses? If so, why (sentiment, support levels, etc)?

Thank you.

Happy 2021 and good luck to you all!

[tabas]

It is unknown. IMHO, we probably won't be seeing $20k again and the support has already been done on $30k. If you want to get an entry, this could be the right time.
It sits on $33k.

[fojomo]

It is unknown. IMHO, we probably won't be seeing $20k again and the support has already been done on $30k. If you want to get an entry, this could be the right time.
It sits on $33k.

Yeah right? 33k just might be the level of support we'll see before we go up again. We may have seen the pull back everyone has been talking about already (down to 30k a few days ago). I missed that one.

Now waiting to see if:

a.) we retest that low (around 30k)

or

b.) we break to new lows  .. ie. 20K or there abouts

or

c.) we simply don't see those lows again and it's up from here??!!

Hmmmm..

[Kemarit]

We even don't know what the support/resistance level as this point, so it's hard to also see what will be the bottom of the current price corrections. But currently, it did settled around the $33,000-$35,000, so I guess the price won't to $20,000 as you have been waiting.

But I do agree that we might not see this lowest low, as the are still in the bullish phase and everyone whether retail, institutions and big companies are into bitcoin right now.

[minersday]

I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?

I am thinking around 20K.

Any guesses? If so, why (sentiment, support levels, etc)?

Thank you.

Happy 2021 and good luck to you all!

considering the drastic drop of Bitcoin within the last 7 days, I don't see Bitcoin surpassing $41k to $45k or $50k. The highest market value I see Bitcoin obtaining will be it's initial $41k.  Bitcoin can potentially drop to $25k and rotate between $30k to $35k. In as much that the Bitcoin market is full of unpredicted expectations, I don't really see Bitcoin market value hitting above $45k.

[fojomo]

We even don't know what the support/resistance level as this point, so it's hard to also see what will be the bottom of the current price corrections. But currently, it did settled around the $33,000-$35,000, so I guess the price won't to $20,000 as you have been waiting.

But I do agree that we might not see this lowest low, as the are still in the bullish phase and everyone whether retail, institutions and big companies are into bitcoin right now.

Kermarit,

Thanks for the perspective. As for support, I think if there is any  .. it's at the low end of our current value area- right around 30. Perhaps I should set a limit order at 30k and call it a day! In other words, I'm hoping we re-test at 30 (and it looks very likely that will happen soon).

We shall see.

[tbct_mt2]

I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?

I am thinking around 20K.

Does the latest weak down to $28k is not safe enough for you to make your re-entry?

20% or 30% down from the all time high is safe enough for you to re-entry the bitcoin market and enjoy strong bounce with profit in short term, in hours or few days. The coming days are important for the market as the USA. Elected President will have an Inauguration date on 21st January. I don't know what will happen on that day. If there is no serious things, the market might response positively but who knows the future.

[yazher]

I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?

I am thinking around 20K.

Any guesses? If so, why (sentiment, support levels, etc)?

Thank you.

Happy 2021 and good luck to you all!

I don't think it will go below 30K this time since it was recovered from near fall yesterday. In that case, if ever the price goes down today or tomorrow in the said amount, you should consider investing or else you won't see that low price again and you will force to invest at a high price if you still wante4d to invest lower than $30k.

[Nikole Fischer]

I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?

I am thinking around 20K.

Any guesses? If so, why (sentiment, support levels, etc)?

Thank you.

Happy 2021 and good luck to you all!

We'll never know when the bitcoin price starts to rise. We'll find out about it only from the news.

In my opinion, bitcoin won't fall below 30k. I really hope that soon we'll be able to see its rise to record prices

[hd49728]

I am thinking around 20K.

If you are chartist, and make your decisions from charts, the price from $18.3k to $23.8k would be great. You can see it with 3D-chart. I don't wait for the price around $18.3k and in reality I bought bitcoin at $31k days ago. I took profit already and will spend a few weeks to see another dip to $23k to $25k.

After that, if I will be able to entry at that price, I would enjoy some short time tradings and then hold my bitcoin. It would be another beginning for next bull round.

One article in December mentioned price about $23k. Did Bitcoin price just see a 'retail FOMO peak signal'? This indicator says yes

[Darker45]

Nobody can answer you with certainty. The fact is that the price is not yet back at $42,000 which means you can still do the buying right now at $33,000. That's still almost $10,000 less. Or wait for that $20,000 which may never come at all.

So you have a couple of options right now: risk waiting for that lower price which is not sure to arrive or buy right now and wait for that $50,000 which will probably arrive but at a certain time we cannot accurately predict.

[maculeth]

probably around 20k-25k and it is unlikely that it will fall any lower. because with the increase already hitting 40k, I think if it halves down to 20k it will be normal for bitcoin and then back in the pump.

[michellee]

Bitcoin can go for any lower price without we can predict accurately. After rallies to $40k-$41k, bitcoin down too deep, and it still stay at $32k-$33k, and that can go lower again if more people panic to see the lower price. Maybe the lowest price of bitcoin that can happen in the future will be at $20k-$25k, but we do not know if that will happen or not, but I do not expect to see bitcoin will be at that lowest price. In the other side, that will be a good price for us to buy more bitcoin.

[Lorence.xD]

probably around 20k-25k and it is unlikely that it will fall any lower. because with the increase already hitting 40k, I think if it halves down to 20k it will be normal for bitcoin and then back in the pump.

It will be likely but considering that it will bounce back anytime could be a good time, there are more than one possibility in the price of bitcoin, it could just go and rally back to another ATH which will leave behind those who were waiting for a lower price and among other things. You can split your buy to a 50/50 ratio, get the 50% to be bought right now and the other is for when a dip happens.

[haroldtee]

It was like yesterday, when the long correction from 19800 happened, and then everyone was busy looking for where to buy. I bet some even claimed Bitcoin would get to $1k and they would rush in. It just amazes me today how someone is looking out for a support at $20k.

My point: no one knows nothing. If you can look out for price action; and higher highs and lows from key supports (previous resistance), you can buy, but that doesn't still guarantee, as this is a volatile environment.

However, if everything I just said, sounded like pure jargon to you, then just buy and look at long term prospect, instead of short term gains. That saves you from buying what you can't afford to lose (you can only lose anyway, if you sell at loss, since you are in a spot market). If market goes lower to the region where you expect you really want to get in, feel free to buy more (you can split the funds). At the end, you have nothing to lose in the long term.

The fact is, no one can tell you what happens tomorrow or if bitcoin would pull back to $20000. I for one would love to see that happen, to see the price reaction in that region, probably to serve as very key and tested support in the long run. Wish you all the best in your decision making.

[LogitechMouse]

I already said it many times and I will say it again.
If only there is one person or a group of people who can predict the future and answer this with 100% accuracy then that person or they must've been rich by now .

What we can only do right now is to predict what can happen and our chance that our prediction might happen is 50% or even lower (like toss coin where you can only choose 2 heads or tails).
Go to the chart and put in a weekly time frame and then put a 21 Moving Average there. That is where Bitcoin might drop in the next few weeks or months.

[20kevin20]

The first months of the year have been usually quite rough to BTC previously so I expect it to either sit around $30-40k or dump even lower for a few weeks/months to come before the real bullish market begins. It realistically cannot just keep pumping continuously.

[freedomno1]

Personally, I see 15K as the new low it would not be stable at that lower range, preferably around 18 to 25k would be a good entry and accumulation point.
Recall ATH was 46K Last Year 5K
Going from 2017 Peak as the low base seems fair

For fun 18249 US the flat yellow line on coinmarketcap

[joniboini]

I think it would be easier if you just diverse your buy and make a separate plan for it. For example, if it reaches $30k you buy $100, if it goes down to $25k you buy again, and so on. If you truly believe that Bitcoin will rise again I guess holding for years won't be a problem for you.

Trying to find the perfect timing is a great thing but luck plays a really great factor on that one, so I guess you just have to play with probability and manage your risk accordingly.

[cryptoaddictchie]

I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?

I am thinking around 20K.

Any guesses? If so, why (sentiment, support levels, etc)?

Thank you.

Happy 2021 and good luck to you all!

There is bearish sentiment on the current level. I can see a  lower 24k to 23k level. If this is hit price will be retest again and if break out again down to 20k and maybe start again another round of bull wick.

I'm not so sure of course just basing on my personal TA but mostly believe it will not so easy go down to 20k level at this is the institutional price where majority got enter bitcoin.