How far will Bitcoin price correct?

[cabron]

I'm afraid the price has not yet reached its bottom. $57,000 is probably not the bottom. There's still room down there. It could go as far as $55,000. I don't see it going any lower than $55,000 though.

But this is not taking away the bullish cycle that we are still in right now. The price falling to $55,000 is just part of the short-term rise and fall. The medium to long term is still very much bullish. There will definitely be another ATH coming if not in November then definitely in December. But we are admittedly going far from the $100,000 target.

Most of the time it's the previous resistance that will turn to support as I have noticed as well. Maybe it will just be in the $53K, people on telegram are saying so. The Macro influencers are also predicting the bull run is not yet over which of course they make it too overly.

And yet we thought this money will be different from October. This just means that what we really expect the most just doesn't happen all the time. $100K is just out of reach.

[1714712980]

1714712980

[Chato1977]

we have seen a lowest price below 30k recently so what could we expect more?

i think we will see more on an increase to than lowering .


Bitcoin may strike another ATH before the year ends but i see no chance of this bottoming again below that 30k level.

[STT]

We're exploring the range between July pricing and the recent top, no need to think its more negative then that just yet.   Right now Iam thinking further downwards because we just challenged the 50 day average from the underside and were rejected so we continue on a negative trajectory until the outlook appears better.


Iam surprised just 1 person votes for 200 day average.   Its the most simple universal known market indicator on a graph, we are likely to pay heed to it in general.   Doesnt mean we have to go there, 200 day is rising which means overall we are positive market long term.   Its definitely reasonable to buy the dip but you may need to keep some powder dry as we dont know how far external factors will lower pricing.

[Kadal Ijo]

Seeing bitcoin price movements since April and having dropped below $30k made many people pessimistic at the time, but after the market skyrocketed again, new ATH in early November reached $68500, as usual when ATH occurs the market is corrected but I'm optimistic for the month november to december prices will never drop below $50k.

[dragonvslinux]

We're exploring the range between July pricing and the recent top, no need to think its more negative then that just yet.   Right now Iam thinking further downwards because we just challenged the 50 day average from the underside and were rejected so we continue on a negative trajectory until the outlook appears better.

I'm seeing the same rejection from the 50 Day MA that's rising fast, but also noticing it will begin to flatten out within a week based on the candles that will be removed from this average and price remaining at the current level, so not necessarily considering further downside as necessary before a continuation upwards. If price can move sideways for a week, then a flatter MA will be easier to challenge imo.

While usually I'd consider a re-test of 200 Day MA after a rejection from the 50, we are currently finding support from some considerable accumulation volume:

There's also a bullish looking doji candle on the 3 Day chart that I imagine nearly everyone is overlooking, one that shows buying pressure, despite the Daily and Weekly looking unhealthy.

Iam surprised just 1 person votes for 200 day average.   Its the most simple universal known market indicator on a graph, we are likely to pay heed to it in general.   Doesnt mean we have to go there, 200 day is rising which means overall we are positive market long term.   Its definitely reasonable to buy the dip but you may need to keep some powder dry as we dont know how far external factors will lower pricing.

I don't think that many people think we're heading for a bear market, even if price does go lower. This is probably why.

[Lucius]

See you guys in the next bull market.

Wait..  what?  A pessimist?  Lol.  I said there’s strong support at 40k and if that breaks there’s another support around 30k that could prolly hold.  And if that 30k support breaks down, I’m just a pessimist?  So nobody’s allowed to say that it’s prolly a bear market around these parts anymore?

Edit:  And I didn’t even say BTC would fall.

I think it's quite clear what you wrote, but this is a speculation board and anyone can write what they want, I have nothing against different opinions. At this point, no one can say with certainty (nor ever could) what will happen in the next month. What I see as a problem is the constant invocation of the bear market since Q2 this year, and all because of that the price of BTC is not at least $100k what many members of this forum are obsessed with.

Solid support at $55k, then at $50k, all the way down to $40k and lower it is no great wisdom - if most start believing we are in a bear market, then they will start behaving that way.

[milewilda]

Seeing bitcoin price movements since April and having dropped below $30k made many people pessimistic at the time, but after the market skyrocketed again, new ATH in early November reached $68500, as usual when ATH occurs the market is corrected but I'm optimistic for the month november to december prices will never drop below $50k.

We’re on the level of $55k already and a critical price for Bitcoin because if we go lower than this, then hitting the price below $50k are possible and that could be the start of another panicking and another bear market. Hopefully Bitcoin can sustain its price above $50k because if not, we might see a more dip price with Bitcoin.

Panicking into those times on where the market is really going low is that a very common reaction even veteran ones but what differs is that these situations are really a good opportunity to buy back.
We cant really just have a market that would continue to rise its price so it would really be normal for you to assume that there would be corrections and thats the time you would be seeing
to buy back but it wont be simple because hindrance or hesitance would really be there on buying back so its a matter of risk taking.

[24Kt]

Seeing bitcoin price movements since April and having dropped below $30k made many people pessimistic at the time, but after the market skyrocketed again, new ATH in early November reached $68500, as usual when ATH occurs the market is corrected but I'm optimistic for the month november to december prices will never drop below $50k.

We’re on the level of $55k already and a critical price for Bitcoin because if we go lower than this, then hitting the price below $50k are possible and that could be the start of another panicking and another bear market. Hopefully Bitcoin can sustain its price above $50k because if not, we might see a more dip price with Bitcoin.

This is interesting what will happen next as we are seemingly in the "bearish" mode. But we are still in 56k as we speak, maybe one good news and we will start seeing the rise of market again. Right now, I believe some strong believers are silently accumulating their stash, which is a good idea if you have extra funds to do so. Because it is only a matter of time before we see that 60k level again or more. And regarding its correction price, no one can tell such price, just keep an eye on the market.

[Fundamentals Of]

I'm afraid the price has not yet reached its bottom. $57,000 is probably not the bottom. There's still room down there. It could go as far as $55,000. I don't see it going any lower than $55,000 though.

But this is not taking away the bullish cycle that we are still in right now. The price falling to $55,000 is just part of the short-term rise and fall. The medium to long term is still very much bullish. There will definitely be another ATH coming if not in November then definitely in December. But we are admittedly going far from the $100,000 target.

Most of the time it's the previous resistance that will turn to support as I have noticed as well. Maybe it will just be in the $53K, people on telegram are saying so. The Macro influencers are also predicting the bull run is not yet over which of course they make it too overly.

Yes, of course, that is a common occurrence that previous resistance becomes a support but it is also a common occurrence that previous supports are turning into resistance. Right now, $60,000, which was considered a strong support in a way several days ago, has now become a resistance. But I agree with you that the bull run is not over. At least if we zoom out a little.

And yet we thought this money will be different from October. This just means that what we really expect the most just doesn't happen all the time. $100K is just out of reach.

Out of reach in 2021 probably. But easily within reach in 2022.

[TravelMug]

Seeing bitcoin price movements since April and having dropped below $30k made many people pessimistic at the time, but after the market skyrocketed again, new ATH in early November reached $68500, as usual when ATH occurs the market is corrected but I'm optimistic for the month november to december prices will never drop below $50k.

We’re on the level of $55k already and a critical price for Bitcoin because if we go lower than this, then hitting the price below $50k are possible and that could be the start of another panicking and another bear market. Hopefully Bitcoin can sustain its price above $50k because if not, we might see a more dip price with Bitcoin.

This is interesting what will happen next as we are seemingly in the "bearish" mode. But we are still in 56k as we speak, maybe one good news and we will start seeing the rise of market again. Right now, I believe some strong believers are silently accumulating their stash, which is a good idea if you have extra funds to do so. Because it is only a matter of time before we see that 60k level again or more. And regarding its correction price, no one can tell such price, just keep an eye on the market.

I wouldn't call this a bearish mode, yeah maybe some period wherein volumes are low and obviously traders are shifting away from bitcoin and maybe trying to make money on some alts.

But then again, bitcoin is the prime mover, and there will be time that they are going back to it.

Yeah, we did try to attempt to break $60k but it was a failure and the price goes to $56k again. But still have a full week to try and reach that price again.

[adaseb]

The poll doesn't have much votes but it seems that many people think that the previous pivot at $53K will be the bottom, which I also assumed and it makes me think we will either get front-run or it'll break thru that level and head lower.

One thing I learnt with trading and crypto especially is, if everybody is waiting for the exact same outcome it will most likely not happen. On a basic technical analysis level it seems that $53K would be a perfect long and many want to add their positions there, so most likely it'll never reach $53K and instead go to like $54K or it'll go below $53K to somewhere like $50K instead.

[michellee]

If this situation continues, I am afraid that the bear market will still appear and the price can get down for another deep. We do not know how far the bitcoin price will go down and bounce up again because there is no sign that we can use to predict accurately. Hence, our prediction can only give us a warning sign to prepare for any worst situation that can happen later.

While the price now seems stable for a moment can give us more time to analyze and find more clues. If we can use this moment to hit and run trading, maybe we can still profit, but be careful doing that. Maybe we should stay calm for a while and not do anything related to the market to see how the market will move.

[Reatim]

Seeing bitcoin price movements since April and having dropped below $30k made many people pessimistic at the time, but after the market skyrocketed again, new ATH in early November reached $68500, as usual when ATH occurs the market is corrected but I'm optimistic for the month november to december prices will never drop below $50k.

We’re on the level of $55k already and a critical price for Bitcoin because if we go lower than this, then hitting the price below $50k are possible and that could be the start of another panicking and another bear market. Hopefully Bitcoin can sustain its price above $50k because if not, we might see a more dip price with Bitcoin.

This is interesting what will happen next as we are seemingly in the "bearish" mode. But we are still in 56k as we speak, maybe one good news and we will start seeing the rise of market again. Right now, I believe some strong believers are silently accumulating their stash, which is a good idea if you have extra funds to do so. Because it is only a matter of time before we see that 60k level again or more. And regarding its correction price, no one can tell such price, just keep an eye on the market.

nope how can you call this a bearish when price stays at 50k level? we even hardly drop down to below 30k last month?

I don't think we are in Bearishness or we will be there any time soon, what i am seeing is like early november when the price grows high after the fall.

and this correction is just a beginning of another Hyping.

[arwin100]

Seeing bitcoin price movements since April and having dropped below $30k made many people pessimistic at the time, but after the market skyrocketed again, new ATH in early November reached $68500, as usual when ATH occurs the market is corrected but I'm optimistic for the month november to december prices will never drop below $50k.

We’re on the level of $55k already and a critical price for Bitcoin because if we go lower than this, then hitting the price below $50k are possible and that could be the start of another panicking and another bear market. Hopefully Bitcoin can sustain its price above $50k because if not, we might see a more dip price with Bitcoin.

This is interesting what will happen next as we are seemingly in the "bearish" mode. But we are still in 56k as we speak, maybe one good news and we will start seeing the rise of market again. Right now, I believe some strong believers are silently accumulating their stash, which is a good idea if you have extra funds to do so. Because it is only a matter of time before we see that 60k level again or more. And regarding its correction price, no one can tell such price, just keep an eye on the market.

nope how can you call this a bearish when price stays at 50k level? we even hardly drop down to below 30k last month?

I don't think we are in Bearishness or we will be there any time soon, what i am seeing is like early november when the price grows high after the fall.

and this correction is just a beginning of another Hyping.

We cannot call that we are at bearish right now knowing the price at the moment is pretty much expensive but if we can see the price drop down up to $40k maybe we can conclude that it is, but I still believe that we can still get a good run this December knowing this is kinda a good month for crypto. But if our expectation will not came then its good to wait up and see some good position to buy some at the dip.

[$crypto$]

We cannot call that we are at bearish right now knowing the price at the moment is pretty much expensive but if we can see the price drop down up to $40k maybe we can conclude that it is, but I still believe that we can still get a good run this December knowing this is kinda a good month for crypto. But if our expectation will not came then its good to wait up and see some good position to buy some at the dip.

The price is still quite stable, we can't conclude bearish considering the decline is not severe even I am waiting for good with time left until the end of the year there is still a way to go positive so I think bitcoin can still go against the direction with a little correction.
Once we get past the not-so-basic prices and we're about to enter the new year I'd say that's where bitcoin starts to improve with all the positivity, but still so far in my decline a little bit to collect bitcoin.

[leea-1334]

Out of reach in 2021 probably. But easily within reach in 2022.

And for me,,, if not in 2022, I feel like I am ready for 2025. I mean I remember 2017 quite freshly and it only took 3 years for a return to 20k so even if we only return back to 69k in 2024 (3 years) and then taking 2025 to go to 100k I am well equipped after all this experience of waiting.

I thought hodling and waiting and selling as needed would be difficult but I passed personally to my own standard of flying colors 

[justdimin]

If this situation continues, I am afraid that the bear market will still appear and the price can get down for another deep. We do not know how far the bitcoin price will go down and bounce up again because there is no sign that we can use to predict accurately. Hence, our prediction can only give us a warning sign to prepare for any worst situation that can happen later.

While the price now seems stable for a moment can give us more time to analyze and find more clues. If we can use this moment to hit and run trading, maybe we can still profit, but be careful doing that. Maybe we should stay calm for a while and not do anything related to the market to see how the market will move.

Everyone is afraid of the same thing, we are afraid that the bear market may come, however if you have some fiat saved aside then you should be pretty happy about the bear market coming as well.

People are looking at this in a wrong way, we should not see this as up equals profit down equals loss type of way, that is not how it works. We should be looking at it in a sense that maybe we are going to profit even more if the price goes down? I mean it is totally possible for you to buy some more if the price falls to 30k levels, and then when it is 75k one day you will have 2.5x profit instead, right? That sounds even more marvellous if you ask me.

[Oasisman]

Out of reach in 2021 probably. But easily within reach in 2022.

And for me,,, if not in 2022, I feel like I am ready for 2025. I mean I remember 2017 quite freshly and it only took 3 years for a return to 20k so even if we only return back to 69k in 2024 (3 years) and then taking 2025 to go to 100k I am well equipped after all this experience of waiting.

I thought hodling and waiting and selling as needed would be difficult but I passed personally to my own standard of flying colors 

Well-equipped with experience, nice statement I guess we are all is. However, not everyone is willing wait and hodl till the next 3 years. Even with much experience in a roller coaster ride of Bitcoin's price, some people are still skeptical thinking Bitcoin has peaked.
2022 is a highly anticipated year for Bitcoin to hit $100k. Don't underestimate the power of speculations, in 2025 Bitcoin may pass way beyond $100k, so I guess you're still in good hand If you plan to hodl till 2025.

[Fundamentals Of]

Out of reach in 2021 probably. But easily within reach in 2022.

And for me,,, if not in 2022, I feel like I am ready for 2025. I mean I remember 2017 quite freshly and it only took 3 years for a return to 20k so even if we only return back to 69k in 2024 (3 years) and then taking 2025 to go to 100k I am well equipped after all this experience of waiting.

I thought hodling and waiting and selling as needed would be difficult but I passed personally to my own standard of flying colors 

I also passed my own standard in terms of having strong hands. I've gone through the 2017 bull cycle and the 2018 bear cycle. If I stood firm during those times, I could easily stand firm these days when the new $4,000 is $60,000. I am also a graduate of this hodling course with flying colors. But I honestly don't think $100,000 will come that late.

Well-equipped with experience, nice statement I guess we are all is. However, not everyone is willing wait and hodl till the next 3 years. Even with much experience in a roller coaster ride of Bitcoin's price, some people are still skeptical thinking Bitcoin has peaked.
2022 is a highly anticipated year for Bitcoin to hit $100k. Don't underestimate the power of speculations, in 2025 Bitcoin may pass way beyond $100k, so I guess you're still in good hand If you plan to hodl till 2025.

Let those skeptical ones stay away from the kitchen if they cannot stand the heat. Bear markets are there for developing strong hands. If they cannot survive then they fail.

[michellee]

If this situation continues, I am afraid that the bear market will still appear and the price can get down for another deep. We do not know how far the bitcoin price will go down and bounce up again because there is no sign that we can use to predict accurately. Hence, our prediction can only give us a warning sign to prepare for any worst situation that can happen later.

While the price now seems stable for a moment can give us more time to analyze and find more clues. If we can use this moment to hit and run trading, maybe we can still profit, but be careful doing that. Maybe we should stay calm for a while and not do anything related to the market to see how the market will move.

Everyone is afraid of the same thing, we are afraid that the bear market may come, however if you have some fiat saved aside then you should be pretty happy about the bear market coming as well.

People are looking at this in a wrong way, we should not see this as up equals profit down equals loss type of way, that is not how it works. We should be looking at it in a sense that maybe we are going to profit even more if the price goes down? I mean it is totally possible for you to buy some more if the price falls to 30k levels, and then when it is 75k one day you will have 2.5x profit instead, right? That sounds even more marvellous if you ask me.

If people think like you, I am sure they will be happy to see the bear market coming because they have already prepared some funds to buy huge amounts of many coins. They are not ready to see the bear market while they do not sell their coins at a high profit. People tend to hold their profit while the coin price can soar two times or even ten times from the price they bought so they miss selling at the highest price.

That makes them afraid to see the bear coming after that because they are not yet selling their coins and making a profit. Maybe we need to change our trading so whenever the price can increase several times than before, we can take profit and stay calm waiting for the price to be down.