Don't be surprise to see price of btc drop this week

[StreakW]

Dropping price is natural and only people who have a weak mentality will be surprised. I have bitcoin and keep hold it. I don't care if the price drop because I hold the safest asset. If I have huge capital I will buyback and keep hold it. Bitcoin is financial freedom and this is I like it

[Hippocrypto]

I'm seeing with the way the waves has gone and the closing of last week and month, the price is going to drop taking off close to $4,000 from the current price. This maybe a major correction.
~snip~

The correction will tend to initiate this month but with minimal progression. As you see on the chart, dominance is more high compared with resistance so lets expect more demand to come. Traders who do short and quick trades would always benefit a good profit one its done in a right way. Avoiding wrong moves is a good action, because we need to hit the right path before success comes.

[Sithara007]

There seems to be strong resistance around 50K level. A lot of the long-term traders have set their target at 49-50K and will be selling a part of their holdings once that target is achieved. And this will create excess supply in the market, at least for the short term. We need to remember that the 20K level also took a long time to breach (3-4 weeks), for the same reason.

[Questat]

There seems to be strong resistance around 50K level. A lot of the long-term traders have set their target at 49-50K and will be selling a part of their holdings once that target is achieved. And this will create excess supply in the market, at least for the short term. We need to remember that the 20K level also took a long time to breach (3-4 weeks), for the same reason.

As this point, I don't know anymore if that resistance is still hard to break, it's confirm bull run, we are experiencing and enjoying it (don't know for some), so we should think bullish as well and that $50k might be broken soon. The drop has not happen yet, bitcoin seems to be turning crazy this year too as there's no sign of it dumping or correcting hard.

[doomloop]

Chart or no chart any spike this high always is followed by a dip whether little or big.  Nothing is linear in any market especially bitcoin.  I have been adverse to TA in the past because crypto TA is guesswork to some extent. (At least much more than stonks) but there is definately merit to it i guess to some degree

Speculation is guess work and technical analysis and chart work done is with the help of past performance and most likely scenarios and bitcoin does not have a big chart to study like the stock market. I am also expecting a correction but no idea when.

Majority of the market spiked a lot in the past few months and the spike was exceptionally high than i expected and majority might be in that category especially some coins which i though were shit coins .

I always loved the saying "success is preparation meet luck" and that is always true in almost everything in life including trading as well.

If you want to make profit from trading, you need to learn how to be a great trader that is true, but you need to be lucky a bit as well, nobody that gets zero luck would make money like a robot, that is why many trading bots do not create wealthy people neither, if only TA was enough, people would build trading bots with TA inputs (which exists already) and leave it be and make endless amount of profit, since they fail to do that it is going to be a bit harder to actually profit from it as well.

Not impossible to make profit like that, you could always get lucky as well, but you need to both have luck (just luck is not enough for long term neither) but you need to be ready for it and there as well in order to profit.

[carlfebz2]

There seems to be strong resistance around 50K level. A lot of the long-term traders have set their target at 49-50K and will be selling a part of their holdings once that target is achieved. And this will create excess supply in the market, at least for the short term. We need to remember that the 20K level also took a long time to breach (3-4 weeks), for the same reason.

As this point, I don't know anymore if that resistance is still hard to break, it's confirm bull run, we are experiencing and enjoying it (don't know for some), so we should think bullish as well and that $50k might be broken soon. The drop has not happen yet, bitcoin seems to be turning crazy this year too as there's no sign of it dumping or correcting hard.

We cant just really ignore the fact that market wont really just pump like forever.There would be always a selling point or huge correction but it seems that it is really likely to stay into these levels for a while now.

Trying to break out that 50k resistance is the main target as of this moment and its high likely to be seen for this year but who knows if we do have some major correction and might stay up again neither on 20-30k.

So the best thing to do is to utilize these movement for your own advantage. Secure profits while you can and then save up the rest for long term so that it wont really hurt that much
when there are some price drops.

[STT]

Look for a drop if we can break this trend along with current short term momentum.  It would revise all the prices around the Tesla price gain which is probably going to occur anyway at some point.



I heard someone mentioned a double holiday both in China and USA two of the big markets for BTC and that might allow a different price to occur.   Im never sure if low volume can help higher prices also though.

[XCANA]

I have checked from the past that February as a month usually have some sort of price drops, this happened in 2018, 2019 and equally happened in 2020 which brought about the price of Bitcoin down, so, for us to have a plummet in Bitcoin price soon (especially this month of February) the better it will be for us to buy from the dips.

[KTChampions]

My optimism has cooled down a lot, but I'm not so negative as to think of a drop below $40k. I think your proposition of a scenario where the price will be dncing between $42k- $47k for a while is very likely.

I think that the impact on the market by the information about the investment in bitcoin by Elon Musk had is not over yet. Big players cannot react with the speed of traders; they need time to make a decision. If they follow his example (at least some of them), then we will not see any correction in the near future.

[plr]

I have checked from the past that February as a month usually have some sort of price drops, this happened in 2018, 2019 and equally happened in 2020 which brought about the price of Bitcoin down, so, for us to have a plummet in Bitcoin price soon (especially this month of February) the better it will be for us to buy from the dips.

We don't have Elon Musk back February and Bitcoin last year is preparing for reduction of it's mining, so it's totally different from last year to this year, and will be different from now on because of the institutions coming in the market, each month and each year now offer a different scenario and perspective.

[BuNga_cute]

In fact, for highly volatile assets like Bitcoin, it is very natural for the price to suddenly drop. But this year there is a lot of positive news about Bitcoin,
so the Bitcoin price continues to be bullish. Therefore I doubt Bitcoin will fall in price, even now Bitcoin is very stable its price is always above
the support price of $ 45k. My prediction is that Bitcoin next week should go up to $ 50k.

[aioc]

In fact, for highly volatile assets like Bitcoin, it is very natural for the price to suddenly drop. But this year there is a lot of positive news about Bitcoin,
so the Bitcoin price continues to be bullish. Therefore I doubt Bitcoin will fall in price, even now Bitcoin is very stable its price is always above
the support price of $ 45k. My prediction is that Bitcoin next week should go up to $ 50k.

There's always speculation about price drop because investors are used to seeing a price drop even if there is a price drop it will not be beyond 10% the market is having a good trend since January and will continue to be so as long as there are much good news coming, I hope Elon continues to support and shill coins, good coins like Bitcoin and Ethereum more Dogecoin is good I made a small profit.

[virasog]

I'm seeing with the way the waves has gone and the closing of last week and month, the price is going to drop taking off close to $4,000 from the current price. This maybe a major correction.
~snip~

The correction will tend to initiate this month but with minimal progression. As you see on the chart, dominance is more high compared with resistance so lets expect more demand to come. Traders who do short and quick trades would always benefit a good profit one its done in a right way. Avoiding wrong moves is a good action, because we need to hit the right path before success comes.

Many people predicating to see a dump in the market in February but contrary to that, bitcoin and altcoins are not dumping. I think we may see an extended bull market period without a significant correction. This is due to a lot of positive sentiments in the market and i think this time is different.

[Dave1]

I'm seeing with the way the waves has gone and the closing of last week and month, the price is going to drop taking off close to $4,000 from the current price. This maybe a major correction.
~snip~

The correction will tend to initiate this month but with minimal progression. As you see on the chart, dominance is more high compared with resistance so lets expect more demand to come. Traders who do short and quick trades would always benefit a good profit one its done in a right way. Avoiding wrong moves is a good action, because we need to hit the right path before success comes.

Many people predicating to see a dump in the market in February but contrary to that, bitcoin and altcoins are not dumping. I think we may see an extended bull market period without a significant correction. This is due to a lot of positive sentiments in the market and i think this time is different.

I wouldn't say or see this an extended rally, in fact if we hit $50k, then it could just be the start as for sure many will fomo on the market again because we are now looking at $100k at the next target for this bull run. But don't let be fool, just use our common sense, the price could go down anytime but it doesn't mean that we should sell, take that as an opportunity to get more BTC in our wallet and hold.

[freedomgo]

I'm seeing with the way the waves has gone and the closing of last week and month, the price is going to drop taking off close to $4,000 from the current price. This maybe a major correction.
~snip~

The correction will tend to initiate this month but with minimal progression. As you see on the chart, dominance is more high compared with resistance so lets expect more demand to come. Traders who do short and quick trades would always benefit a good profit one its done in a right way. Avoiding wrong moves is a good action, because we need to hit the right path before success comes.

Many people predicating to see a dump in the market in February but contrary to that, bitcoin and altcoins are not dumping. I think we may see an extended bull market period without a significant correction. This is due to a lot of positive sentiments in the market and i think this time is different.

I wouldn't say or see this an extended rally, in fact if we hit $50k, then it could just be the start as for sure many will fomo on the market again because we are now looking at $100k at the next target for this bull run. But don't let be fool, just use our common sense, the price could go down anytime but it doesn't mean that we should sell, take that as an opportunity to get more BTC in our wallet and hold.

$100k will be for real, however, from $50k to $100k in this bull cycle? I think that is too much IMO. Anyway, some crazy stuffs are happening right now, even if I will think that it's unlikely to happen, I could still be wrong, so continue this bull run and let's see what's the ceiling and how hard the price will fall.

[judeafante]

Dropping price is natural and only people who have a weak mentality will be surprised. I have bitcoin and keep hold it. I don't care if the price drop because I hold the safest asset. If I have huge capital I will buyback and keep hold it. Bitcoin is financial freedom and this is I like it

If you are an old-timer in the market and you have seen it all, there's nothing to be surprised about anymore, it's natural it needs to happen and we should accept it. it's not always a good ride, and sometimes it benefits us when there is a drop, it's another opportunity to buy, so if there is one coming I'm on it.

[senyorito123]

Dropping price is natural and only people who have a weak mentality will be surprised. I have bitcoin and keep hold it. I don't care if the price drop because I hold the safest asset. If I have huge capital I will buyback and keep hold it. Bitcoin is financial freedom and this is I like it

If you are an old-timer in the market and you have seen it all, there's nothing to be surprised about anymore, it's natural it needs to happen and we should accept it. it's not always a good ride, and sometimes it benefits us when there is a drop, it's another opportunity to buy, so if there is one coming I'm on it.

Grab the iron while it hot! That the most exact phrase I am looking forward once there's an opportunity to buy during market downturns. We should be smart enough to decide this time, and don't be deceived with some speculations that has no facts. Always look upon the chart trend and analyze briefly in order to prevent potential panic.

[Walt Dyer]

If you do this ticker BITSTAMP:BTCUSD/FRED:M1*6584 (This is a compensating bitcoin money supply M1.) You can see that in '17 bitcoin was worth 35k. There is still potential for growth. I plotted the approximate resistance, and it turns out that $52 - $110k per bitcoin is the current resistance.

[milewilda]

Dropping price is natural and only people who have a weak mentality will be surprised. I have bitcoin and keep hold it. I don't care if the price drop because I hold the safest asset. If I have huge capital I will buyback and keep hold it. Bitcoin is financial freedom and this is I like it

If you are an old-timer in the market and you have seen it all, there's nothing to be surprised about anymore, it's natural it needs to happen and we should accept it. it's not always a good ride, and sometimes it benefits us when there is a drop, it's another opportunity to buy, so if there is one coming I'm on it.

Grab the iron while it hot! That the most exact phrase I am looking forward once there's an opportunity to buy during market downturns. We should be smart enough to decide this time, and don't be deceived with some speculations that has no facts. Always look upon the chart trend and analyze briefly in order to prevent potential panic.

Sell while you can and buy when theres opportunity and people should really be having this kind of mentality because we dont know on what would happen next into this market.
Getting surprised of drops? then get used to it because anytime soon we would really experiencing this stuff.For now the price do held up strong in 48k and we are  trying to breach out
50k price. Traders or smart investors would really took action varying or depending on the opportunity that they can see into their front.Dont miss out while you are still aware.
Each prediction and analysis might not be precise but at least you can have some basis.

[STT]

Great chart Walt, we never consider the Dollar of 2021 is nothing the same as the Dollar of 2019 and it will alter prices that should be expected for the same value, naturally we do rise over time to compensate for the new dollar supply.   Its a known effect but also usually unaccounted for.
  Price right now is the same peak as on the day of the Tesla buy news and also at the 2 day average, its been sideways since then and so Im not sure if we fall or not.