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

[thecodebear]

The correction is over now. It bottomed at $30k. News of a company getting a US charter for digital currencies today plus Grayscale starting to buy again on Tuesday quickly ended the consolidation period of the correction after the drop to $30k. Bitcoin will never go below $30k now.

Never again? So sure already? We're only at $38K.

This is right smack in the middle of the OTE short zone (the 0.618-0.786 Fib retracement). In June 2017, a BTC bull trap reversed in this zone before the market completed a second leg down, crashing 40-41% total from top to bottom.

We'll only know the bottom is in in hindsight. In my opinion, not enough time or price action has passed. I'd say there is still a decent chance of sub-$30K.

Oooh fun it did dip back to $34k at least very briefly a few hours ago, but so far looks like it might be carving out a higher low at $34/35k (compared to the $30k of earlier this week). Wasn't expecting a $6k pull back after the $10k bounce of the correction haha, but still going under $30k looks like a very long shot. Nearly $36k right now. Looks like correction continuing after all, but seems very unlikely to be a further leg down, rather just still coming out of the correction. I'm actually glad for this, a longer correction/consolidation here means market participants will view $30k-$40k as a more solid floor as opposed to just another bear trap in an expanding bubble. This should provide more solid footing for higher gains in the months to come!

Also I just read in the first two days Grayscale was back buying Bitcoin they bought something like $183 million of Bitcoin. That's in two days! Obviously institutional investors still very eager and excited to be buying, and they are buying the dip. This correction/consolidation period is just transferring more supply from weak retail hands to strong long term institutional hands.

[tabas]

In my opinion, the price of bitcoin is high right now and if you want to buy bitcoin, of course when the price drops so I recommend you to buy it at a price of $ 30k because I think the price of bitcoin will not drop below $ 30k.

People won't listen to that advice. When bitcoin has reached $30k, they asked for more and a lower than that price. Now, looking to the recovery of bitcoin.
They're surely regretting that they've never bought when it was the dip. Their expected price for bitcoin to get lower hasn't happened and that's why some of them are forced to buy always at the peak.

You got it correct mate , Bitcoin seems like not going any low to 35,000 now and will take that 45-50,000$ anytime soon.

It's No regret that i Bought in 32k recently because now real profit is on my side after selling at 38k the last hype.

Good decision that you have made when you have bought on $32k because even if we're seeing the correction that's happening recently, you're still on the profit side.

and i'm planning to take even more if the value goes back to 35k before the final bull comes.

Congratulations, bitcoin just made it back to $35k and you should take more then.

[exstasie]

Bitcoin will never go below $30k now.

Never again? So sure already? We're only at $38K.

This is right smack in the middle of the OTE short zone (the 0.618-0.786 Fib retracement). In June 2017, a BTC bull trap reversed in this zone before the market completed a second leg down, crashing 40-41% total from top to bottom.

We'll only know the bottom is in in hindsight. In my opinion, not enough time or price action has passed. I'd say there is still a decent chance of sub-$30K.

Oooh fun it did dip back to $34k at least very briefly a few hours ago, but so far looks like it might be carving out a higher low at $34/35k (compared to the $30k of earlier this week). Wasn't expecting a $6k pull back after the $10k bounce of the correction haha, but still going under $30k looks like a very long shot. Nearly $36k right now.

Honestly, it looks drippy to me. Full retrace of the last leg up, good selling volume and momentum. Another 4H candle just closed and no sign of bullish reversal yet.

I see two scenarios. The first is a bearish ABC correction to sub-$30K, just like summer 2017. The second is what I call a "scam curve." It'll dig into the low-mid $30Ks but carve out a higher low in a larger sideways accumulation bottom.

Either way the correction continues, no moon yet.

Also I just read in the first two days Grayscale was back buying Bitcoin they bought something like $183 million of Bitcoin. That's in two days! Obviously institutional investors still very eager and excited to be buying, and they are buying the dip. This correction/consolidation period is just transferring more supply from weak retail hands to strong long term institutional hands.

It was always going to be that, regardless of what shape the correction took. But remember, due to lack of liquidity, weak retail hands are capable of moving the market in the short term. That's how we went to $30K a few days ago in the first place.

When I saw that inflow from Grayscale, I was curious if it was built up capital waiting to enter from when placements were closed. I wonder if it'll keep up, given how the market dumped through New York open today.

[Globb0]

I would say we are talking weeks for this.


Kaboom!

[sayaya17]

Before bitcoin actually returns its price to $40k and above, indeed while it is being corrected as it is now, someone who wants to buy bitcoin should be able to determine the purchase price for now. But if you look at the decline of the last few days, it only got to the price of $32k, then bitcoin rose to $36k and dropped again to $34k and went back up to $39k. and now maybe this is the lowest price at $35k, so it's still very hard to get down to $20k. But anything can happen, I can't be sure either, because it's just an observation based on my view.

[adzino]

Who knows. You might well be waiting for the price to go down to 20,000 USD, but when is that going to happen? What if it never happens? People have been thinking the same way for a very long time. When the price rose to $2,000 back then, people probably waited for the price to drop to $200 (not real, but I am making assumptions). But that never happened. So now they regret. The same might happen to you. You well be waiting for the price to drop to $20,000 USD but that might never happen.  What if the new low of bitcoin is $30,000? Like others said, you don't want to wait for the price to go below $30k USD.

[Yamifoud]

Who knows. You might well be waiting for the price to go down to 20,000 USD, but when is that going to happen? What if it never happens? People have been thinking the same way for a very long time. When the price rose to $2,000 back then, people probably waited for the price to drop to $200 (not real, but I am making assumptions). But that never happened. So now they regret. The same might happen to you. You well be waiting for the price to drop to $20,000 USD but that might never happen.  What if the new low of bitcoin is $30,000? Like others said, you don't want to wait for the price to go below $30k USD.

When it dumps? When it pumps? Common questions that no one can answer but all of us here are just doing predictions.
The current market resistance still pushing the market to move high. And looking at the market volume, the more it increases the more people are buying it, FOMO still exists.

I can remember how the market dump last 2018 after the bullish season. Many investors are in regrets of being optimistic that it keeps surging high but the current situation looks different, in fact, we are stabilizing for quite a long time at $30k-34k. This will be an indication that we no longer have a huge dump in the future as the demand keeps growing day by day.

[Furious 7]

There was a concern because yesterday bitcoin had a little crash and it was not really touching that $ 35k but the panic is sure to happen I will still survive this will return to $ 40k and will break through to $ 50k, look pretty good the movement doesn't have to wait long for the move could significantly get me to go faster if playing short term then it's good enough no doubt.
The bulls are now quite enduring and it has left history before so I think it's longer until the end of the year looking forward to over $ 80k.

[Kemarit]

This is just a natural and healthy correction that we've seen. We're used to seeing the price going up like everyday, but I would say this small dip is good in the long run. As people can buy in this dip and take advantage of it. No need to wait though, as bitcoin's support is above $30,000.

So we bounce back to $39,000 unfortunately, the momentum was short live. So it's weekends so expect some small dumps here and there. Looking for next's week leg up to $40,000 again.

[thecodebear]

This is just a natural and healthy correction that we've seen. We're used to seeing the price going up like everyday, but I would say this small dip is good in the long run. As people can buy in this dip and take advantage of it. No need to wait though, as bitcoin's support is above $30,000.

So we bounce back to $39,000 unfortunately, the momentum was short live. So it's weekends so expect some small dumps here and there. Looking for next's week leg up to $40,000 again.

Yeah I'd expect $40k next week. Maybe even pushing to new ATHs next week.

[Question123]

For now the price of the bitcoin is rising and it is really good and I hope it will continue and will turn back again to the 40k dollars value. The price of 20k dollars is possible but we do not know yet when it happen because we are not sure if price will down this year because probably I really like the value will rise. The price of the 45k dollars is nearly possible this month or next month.

[Janation]

It is still sitting at a high price.

Right now it is at $36.3K and I think it would go further after some time. We never know when but all we know is that since we've reached such heights, I think we can reach higher but that still depends on what will happen. I think it will fall for a short period of time and it will just come back after that. No other places to go but to go up.

[jaberwock]

It happens already days ago , and that is 30,000$ if you missed that chance then better enter now or be sorry sooner.
Bitcoin is in progressive movement and nothing can expect what comes in the near future but according to the movement , it looks like the growth will continue to happen and no lowering that may come.
But of course this will be depending on your faith and observations.
i maybe wrong but i maybe right also.

That is what a correction was and people assumed it was a crash and start of the bear run, they must have seen how wrong they were. Between the finance world there is this understanding that "you do not trade on weekends" because that is how stock market really works, but they do not understand how crypto works, so weekends are a bit rough in the crypto world because of them, but if we can go beyond this weekend without crashing we will definitely go over 40k once more and this time around we are going to end up doing a lot better as well.

It is just my assumption obviously, I do not know what is going to happen, I just think that weekends are a lot more dangerous than the week days because there are less people trading on weekends most of the time, except if it is a very volatile or major weekend where price moves unexpectedly, if that doesn't happen it means we are going to be just fine.

[milkshock100]

It happens already days ago , and that is 30,000$ if you missed that chance then better enter now or be sorry sooner.
Bitcoin is in progressive movement and nothing can expect what comes in the near future but according to the movement , it looks like the growth will continue to happen and no lowering that may come.
But of course this will be depending on your faith and observations.
i maybe wrong but i maybe right also.

That is what a correction was and people assumed it was a crash and start of the bear run, they must have seen how wrong they were. Between the finance world there is this understanding that "you do not trade on weekends" because that is how stock market really works, but they do not understand how crypto works, so weekends are a bit rough in the crypto world because of them, but if we can go beyond this weekend without crashing we will definitely go over 40k once more and this time around we are going to end up doing a lot better as well.

It is just my assumption obviously, I do not know what is going to happen, I just think that weekends are a lot more dangerous than the week days because there are less people trading on weekends most of the time, except if it is a very volatile or major weekend where price moves unexpectedly, if that doesn't happen it means we are going to be just fine.

Lower highs and higher lows which is what is happening now, suggest downtrend to me to be honest.

[Viscore]

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.

I heard it already before, people think bitcoin will not dump below $10k after it hit $19k because of the strong support, but we are all wrong, bitcoin even hit at $3000 level and with that, I can say that it's hard to predict the market.

If bitcoin hit's $20k, I think it's not a good entry point as it could dump lower as that's what we are suppose to see for a heavy correction.

Bet on your own prediction mate, I believe short term trade would work, if it dump a little, buy them and wait till it rise, I think we will see more of that before the price will eventually correct big time.

[buwaytress]

Lower highs and higher lows which is what is happening now, suggest downtrend to me to be honest.

Ordinarily yes but as pointed out above, volumes on exchanges are actually relatively low, and last week's outflow of bitcoin from exchanges also suggest people are done selling for the time being and not even ready to take profit so 40k and beyond still very much on the cards.

Even retest of 30 shouldn't be at huge orders and with the books filled with orders there, think we are protected.

[STT]

Lower highs and higher lows which is what is happening now, suggest downtrend to me to be honest.

That'd be a triangle which can break either way, holding a price range isnt that negative.    Backtrack to 30k is fair play I think  but it can move upto 50k so long as dollar is weak, maybe that is the biggest clue.



Certainly long term it seems the dollar has problems but its often price already reflects expectations fully and its deceptive in moving counter to everything known.    The chart over weekend is representing gains as become usual I think, we passed 12hr fast measure and challenging 2 day average.   The low here is about 38% retracement of the selloff at the start of the week so its reversing that sell yesterday.
   The 2 day and weekly average is about in the same place so it could be some significance to watch the highs happening right now, forming these into a low over the weekend would be a point of strength.   I only especially count 5 days during the week as direction for topics like this on medium term.

[kotajikikox]

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!

If you will continue seeking for that 20k level then you'll be waiting for Long time mate , not unless your talking about 29,999$ maybe this one is possible because Bitcoin even Fell down to 30,500$ couple of days ago.

But that doesnt mean it will go down to 20,999 $ because that's too much to expect specially in this Hyping days .

Hope you will be contented in the present price and just invest closing your Eyes and crossing your fingers   

[Oasisman]

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!

$20k is possible, but the chances for Btc to bounce back during that time might be slim to non, thus you will again wait for a 3-4 year cycle for the next bull season. But ultimately, the best entry point is during the bear season.
At this current rate, It seems that Btc has no plan on coming back down to that level as we still have a lot of investors that's coming in to the crypto market, and a pretty good numbers of good news for Bitcoin to continue surging, probably up to $50k.

[posi]

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!

$20k is possible, but the chances for Btc to bounce back during that time might be slim to non, thus you will again wait for a 3-4 year cycle for the next bull season. But ultimately, the best entry point is during the bear season.
At this current rate, It seems that Btc has no plan on coming back down to that level as we still have a lot of investors that's coming in to the crypto market, and a pretty good numbers of good news for Bitcoin to continue surging, probably up to $50k.

Nothing is impossible in the cryptocurrency market since we are dealing with a volatile system and no one expected the market to be this ridiculous increase in price at the early stage of this year but it cant be used to judge how the whole market of this year will be.

With that been said, I read that the market will experience correction during the last of this year Q1 and if it a strong we may see the $20K price again but no one can know the right bottom