Bitcoin on sale, will the support continues to hold?

[TimeTeller]

^^ Yes, we can take $49k anytime, we are in the sort of the price not going down hard but not people are buying either. We don't know that reasons maybe they are just waiting for something or have move to alt coins for now.

Hopefully we can punch thru that $50k barrier and for sure once we get over that, maybe we could see a new set of FOMO before the end of the year. But if not and the price is just around the $40k'ish, its not that bad, at least we didn't go further in which we might say that we are now at bearish trend.

We already did surpass the 50k level again. So anything can happen in this market.
One good news, and we may see the btc price rising up again.
But of course, you need to be conservative with your estimates here.
So you have your contingencies if in case it is against your expectations.

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[Ararbermas]

Bitcoin is showing consolidation through lower time frames which means there's already a buyers at the current support and keep adding more when there's a fluctuation. So it will keep holding and maybe the last support for this month because obviously it gradually gaining strength.. So probably the first month of 2022 will be the new start for bitcoin..

[Falconer]

The current market capitalization of bitcoin is $923.6 billion of which bitcoin's dominance in the market is 40.9% (Coin Market Cap) or 38.4% (coingecko). I agree with the analysis above that it has triggered buying in the last few days so the price has gone up. There wasn't a big price gain after this correction and the recovery seems slow, but the best part is that bitcoin didn't hit the $45K support.

The resistance that is expected to be broken next is $50K which is now very close to us and it's around $1.2K again. I don't think it's a hard number to hit, but failed on a previous attempt (a few hours ago).

[Poker Player]

We already did surpass the 50k level again. So anything can happen in this market.
One good news, and we may see the btc price rising up again.
But of course, you need to be conservative with your estimates here.

The fact is that we are entering uncharted territory. Until now the vast majority of models had assumed a repetition of price behavior in cycles during Bitcoin's short history. This cycle already seems quite clear that it does not repeat similar behavior to the previous two.  We will have to see what happens in 2022 to pose further analysis, but I, after what I have seen this year, give little credibility to the predictions I see. 

[arufox]

Analyst says Bitcoin is 'on sale' after BTC price dips below $54,000

Bitcoin price is dropping back toward monthly lows, but analysts agree that the current range is a “buy zone.”

Bitcoin's (BTC) downtrend extended a few rungs lower on Dec. 3 after the price dropped under $54,000 and traders will note that the BTC/USD daily chart shows a notable uptick in sell volume.

Investors seem concerned at the emergence of a new COVID-19 variant and hawkish comments from the Federal Reserve. Meanwhile, veteran investment icon Charlie Munger added to the fire by comparing the price action in the crypto market to the dot-com era that ended with the bubble popping.

Strong lower support at $52,000 to $53,000
The “listless” nature of Bitcoin's price action over the past few weeks was highlighted by crypto market intelligence firm Decentrader, who pointed to the choppy price action on lower timeframes and the evidence of a slow downtrend on high timeframes as cause for traders' increased fear “that the bull run may be over.”

The analysts suggested that once BTC breaks out of its current range, “the most obvious support cluster lies around $52,000 to $53,000” near the point where the price broke down during the May crash earlier in the year.

Decentrader said,

“Should we get a deeper correction then a strong support area lies around the 200DMA at $46,200 and at the lower support level of $44,300. To the upside, a significant resistance level lies at the round number of $60,000.”

I guess we are starting to see some people who are panicking with the possibility of bitcoin going down below $50k.

What are your thoughts, will bitcoin support enough to avoid a dump, and if this price will dump, how low it will go?
Since we are done talking with the possible new ATH, then maybe we should not overlook what is happening now.

Almost the last month the price of bitcoin has experienced a very deep price decline. Even the price of bitcoin has dropped to as low as $42k although it had risen to as low as $50k last week before falling again. Conditions like this make some people panic so they sell their assets because they are afraid that they will experience big losses.

[wxa7115]

We already did surpass the 50k level again. So anything can happen in this market.
One good news, and we may see the btc price rising up again.
But of course, you need to be conservative with your estimates here.

The fact is that we are entering uncharted territory. Until now the vast majority of models had assumed a repetition of price behavior in cycles during Bitcoin's short history. This cycle already seems quite clear that it does not repeat similar behavior to the previous two.  We will have to see what happens in 2022 to pose further analysis, but I, after what I have seen this year, give little credibility to the predictions I see. 

This is what is so interesting about the current cycle, we do not really have an idea of what is going to happen as there are too many factors that have altered the behavior of bitcoin during this cycle.

Factors like institutional investors, the pandemic and the looming economic crisis that is coming are a few factors that are affecting bitcoin one way or another, and like always the only thing we can do to find out what is going to happen is to wait, however I have the tendency to think bitcoin will still do well during 2022.

[ranaprime]

Market situation is always in a downward trending mood. There is no such thing as positive news. We heard last week that Australian investors in hype that about bitcoin will be value less so the sale order was much higher but nothing is happen. So we should be careful about fake news. However, bitcoin holders who hold longtime usually do not lose anything. A few days ago we also saw a new ATH. I think it is better to hold on now to get the next result.

[Rufsilf]

Analyst says Bitcoin is 'on sale' after BTC price dips below $54,000

Bitcoin price is dropping back toward monthly lows, but analysts agree that the current range is a “buy zone.”

Bitcoin's (BTC) downtrend extended a few rungs lower on Dec. 3 after the price dropped under $54,000 and traders will note that the BTC/USD daily chart shows a notable uptick in sell volume.

Investors seem concerned at the emergence of a new COVID-19 variant and hawkish comments from the Federal Reserve. Meanwhile, veteran investment icon Charlie Munger added to the fire by comparing the price action in the crypto market to the dot-com era that ended with the bubble popping.

Strong lower support at $52,000 to $53,000
The “listless” nature of Bitcoin's price action over the past few weeks was highlighted by crypto market intelligence firm Decentrader, who pointed to the choppy price action on lower timeframes and the evidence of a slow downtrend on high timeframes as cause for traders' increased fear “that the bull run may be over.”

The analysts suggested that once BTC breaks out of its current range, “the most obvious support cluster lies around $52,000 to $53,000” near the point where the price broke down during the May crash earlier in the year.

Decentrader said,

“Should we get a deeper correction then a strong support area lies around the 200DMA at $46,200 and at the lower support level of $44,300. To the upside, a significant resistance level lies at the round number of $60,000.”

I guess we are starting to see some people who are panicking with the possibility of bitcoin going down below $50k.

What are your thoughts, will bitcoin support enough to avoid a dump, and if this price will dump, how low it will go?
Since we are done talking with the possible new ATH, then maybe we should not overlook what is happening now.

Almost the last month the price of bitcoin has experienced a very deep price decline. Even the price of bitcoin has dropped to as low as $42k although it had risen to as low as $50k last week before falling again. Conditions like this make some people panic so they sell their assets because they are afraid that they will experience big losses.

Since bitcoin broke another ATH last month, the market has experiences price declination afterwards until now. And if I'm not mistaken the lowest price of bitcoin after the ath was below $46k. So it can't be avoided that lots of investors lost its hope on bitcoin after it's consecutive steep declination in the past few weeks, those said investors are the one who aren't committed and trust bitcoin that much when in-fact bitcoin has proved its potential since then. Those who have sold their assets already lost the battle, and soon if it recovers again they would feel bad that they had sold their assets in the first place.

[skarais]

Since bitcoin broke another ATH last month, the market has experiences price declination afterwards until now. And if I'm not mistaken the lowest price of bitcoin after the ath was below $46k.

The lowest bitcoin price in the last 30 days since ATH is $42.8K based on CMC, you should only review it when in doubt. https://coinmarketcap.com/currencies/bitcoin/

So it can't be avoided that lots of investors lost its hope on bitcoin after it's consecutive steep declination in the past few weeks, those said investors are the one who aren't committed and trust bitcoin that much when in-fact bitcoin has proved its potential since then. Those who have sold their assets already lost the battle, and soon if it recovers again they would feel bad that they had sold their assets in the first place.

Investors play an important role in forming bitcoin price support so that it doesn't dump too big by not selling it. Panicked traders will continue to dump their bitcoin at price so low that it will only worsen market condition. But this kind of situation doesn't just happen once and you should know that the market will recover as soon as the panic is gone. Many people will probably hesitate to hold on for the rest of the year (traders not investors) and they will secure their assets to stablecoin. It's a precautionary measure for anyone who might be hesitant to stick around and I think it can be justified for those who have a hard time controlling their emotion.

[Yaunfitda]

^ Panic sellers will have to learn it the hard way here in crypto. You can't blame them if they want to stop the bleeding in their portfolio and cashing it out early. Maybe they're thinking of going back in the market, once it settled down and re-invest again. But I think majority of us really wanted to just hold, no matter what will be the resistance or support price. In the long run, holding will be the best option.

[Kasabus]

^ Panic sellers will have to learn it the hard way here in crypto. You can't blame them if they want to stop the bleeding in their portfolio and cashing it out early. Maybe they're thinking of going back in the market, once it settled down and re-invest again. But I think majority of us really wanted to just hold, no matter what will be the resistance or support price. In the long run, holding will be the best option.

I know we have our own preference in times when the market is very unstable and deciding to end up in panic selling to cash out profits, always rely on our final decision. But i suggest never sell when the price is low as it always bring losses and disappointments in the end. This is the reason why most of us prefer to stay calm and just hold the coins until the price recovers and jus wait for a perfect price to sell. But weak hands often never stay calm and relax, instead they continue selling their coins and end up at a huge loss.

[Silberman]

^ Panic sellers will have to learn it the hard way here in crypto. You can't blame them if they want to stop the bleeding in their portfolio and cashing it out early. Maybe they're thinking of going back in the market, once it settled down and re-invest again. But I think majority of us really wanted to just hold, no matter what will be the resistance or support price. In the long run, holding will be the best option.

I do not think that panic sellers knew what they were getting into when they invested in this market, I really believe they thought they will be able to hold their coins even when the price crashed, but even if in theory this is something easy to do once you find yourself facing those circumstances then things are completely different, so they panic as they were not expecting to have to face such a crash and then they sell their coins, it is sad but at the same time it is a learning experience, and many of those that experience something like that and still come back to the market eventually become good holders, as they learn to overcome those negative emotions and avoid selling their coins for such a low price.