Bitcoin Resisting the below twenty thousand level

[Tellek Garing]

A lot of speculation has been ditched out in the last 48 hours since Bitcoin battled to retain the 20 thousand dollars price even though some expect has predicted a more bearish market in the next month, and some others are of the view that the 20 thousand dollars price is the bearest minimum Bitcoin could fall back to.

At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.

True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play.

[Ziskinberg]

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True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play.

We can't rid of these weak hands and doubtful mindsets, I'd see this and consider the impact of every drop that it showed. However, this won't make the market drop more because once there are selling low, many investors are willing to catch it which is why it never drops more but see a sustainable market.
And I'd never think about $14k - we have done with the bottom already, that is what I see and this dropping scenario won't take so long.

[Republikcoin.com]

True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play.

During a period of decline like now, I don't really care about the problem of falling prices because for me it is still a good opportunity to get Bitcoin on a downtrend like it is today.
So if you are not a trader who just buys and sells after seeing a small profit, then get Bitcoin in every period of decline and be patient waiting for the price increase to occur because with that you will get a win through more profits.

[Tellek Garing]

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True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play.

And I'd never think about $14k - we have done with the bottom already, that is what I see and this dropping scenario won't take so long

I'm not hoping we'll make it to $14k, but anything is possible in this field. Because this is the third leg on a weekly chart, I expect larger investors to enter now. I believe the bottom has been reached, and recovery can begin immediately.
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[Slow death]

A lot of speculation has been ditched out in the last 48 hours since Bitcoin battled to retain the 20 thousand dollars price even though some expect has predicted a more bearish market in the next month, and some others are of the view that the 20 thousand dollars price is the bearest minimum Bitcoin could fall back to.

At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.

We have to see that the price always goes up and down, and on the ups and downs it also has its steps like:

- when the price drops a lot it reaches a zone where there are no more people wanting to sell we call it support, whenever the price reaches that zone of great support and does not fall below that we see a price increase. the price starts to go up to where there is a big resistance a zone where people can't buy anymore and they start selling a lot and the price starts to fall a lot until a strong support zone, this is an endless cycle, that's how the market works

so why are we at 20,000$? because the price failed to break the 25200$ and that's why it dropped back to the strong support which is at 19000$. so what's next? the price will try to break the 25200$ again (of course this takes time) and if it succeeds it will go up even more and if it doesn't then it will fall to a support and if that support holds then it will go up again to try to break the 25200 $

[Beparanf]

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True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play.

We can't rid of these weak hands and doubtful mindsets, I'd see this and consider the impact of every drop that it showed. However, this won't make the market drop more because once there are selling low, many investors are willing to catch it which is why it never drops more but see a sustainable market.
And I'd never think about $14k - we have done with the bottom already, that is what I see and this dropping scenario won't take so long.

We are not seeing seeing Bitcoin rejecting hard at 25K and dumping again on 20K support area if bear is already over. Try to view the Bitcoin chart in weekly timeframe and you will notice that Bitcoin is not yet recovering at all but those green candle on previous is just a relief or bull trap because I still don’t see any good news that will back up the bull trend besides some random opinion by twitter influencers stating Bitcoin price already reach the bottom and use Bitcoin rainbow chart as reference on perma bull stand.

[Nrcewker]

At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.

Once Bitcoins falls below 19k usd, definitely in the next moment all the people will start buying the coin for which the price will definitely rise up.
This trend has been now seen couple of times from the past few months. So to be honest won’t be surprised anymore by the price.
Nevertheless these are knowingly done by the big whales for their own profits. So it’s always advised to don’t panic and patiently watch the market.

[Piesel]

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True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong support level. If the level is broken in the bear's favor, $14k may be in play.

And I'd never think about $14k - we have done with the bottom already, that is what I see and this dropping scenario won't take so long

I'm not hoping we'll make it to $14k, but anything is possible in this field. Because this is the third leg on a weekly chart, I expect larger investors to enter now. I believe the bottom has been reached, and recovery can begin immediately.

Everyone is waiting for the bottom price to fill their bag, I bought some at 20100 to open a trading position and I will be buying some more down if the decline in Bitcoin price continues.

Many bitcoin price analysts forecast a more favorable market for Bitcoin this week, and if all things being equal with the delays in payment of 140,000 Bitcoin to MT. Gox customer's payment which is what caused the panic selling over the last week, but since the payment to customers of the exchange has been delayed with procedure and process of payment and through what exchange has not been made public, we will see more stability for Bitcoin this week since the bottom has already been reached.

[freedomgo]

Usually "resistance" means resisting the growth, and "support" means not letting it fall below certain level. So while saying that Bitcoin is resisting the fall is correct, it sounds weird to people who used to understand resistance as "opposition to growth".

The $20k support is holding well for now, it's clear that there are groups who are interested in defending this important psychological level, but only time will tell if they will fully succeed or not. I wouldn't bet that this is the bottom of the bear market yet.

Knowing how unpredictable the value of bitcoin, no one can really tell if the present value is already the bottom of this bear market as a lot would still happen in the next possible months. Although $20k is much better than seeing its price drop further, but if there will be positive news that will support bitcoin, then there’s no reason that we will see bitcoin falling into its bottom price.

[justdimin]

I feel the same way and have expressed it in other threads about the price. The current price is cheap and we are going to see it in a few years, where many people will regret not having bought at 20,000 USD. If the price goes below that level it is going to be a bargain, and that is why I think it will not last long at those levels. As much as there are people who, when the price pierces lows, panic that it will go lower, there are a lot of people with money who know that price is a bargain and it is worth buying before it recovers.

Unfortunately people do not understand the value of bitcoin at around 20k and lower. They consider it as a bad thing that bitcoin went low but they do not realize that we are talking about something that is amazing for all of us right now.

I mean when will be another time that we will reach 20k or lower? With some time we will never come back to these prices ever again and people are not realizing the potential profit that they are missing right now. I would highly suggest that the best thing to do right now would be making sure that we end up with a good profit if we can buy now, and anyone who doesn't see it will %100 surely regret it in the long term.

[dunfida]

I feel the same way and have expressed it in other threads about the price. The current price is cheap and we are going to see it in a few years, where many people will regret not having bought at 20,000 USD. If the price goes below that level it is going to be a bargain, and that is why I think it will not last long at those levels. As much as there are people who, when the price pierces lows, panic that it will go lower, there are a lot of people with money who know that price is a bargain and it is worth buying before it recovers.

Unfortunately people do not understand the value of bitcoin at around 20k and lower. They consider it as a bad thing that bitcoin went low but they do not realize that we are talking about something that is amazing for all of us right now.

I mean when will be another time that we will reach 20k or lower? With some time we will never come back to these prices ever again and people are not realizing the potential profit that they are missing right now. I would highly suggest that the best thing to do right now would be making sure that we end up with a good profit if we can buy now, and anyone who doesn't see it will %100 surely regret it in the long term.

Not only going on below 20k level but in overall decline and whenever the price to plummets which they do really see always this is a bad thing without even realizing that these times are best time for you to make at least some positioning for you to buy cheap and whenever there's some increase even on small percentage or scale then it would really be still benefiting you but since not all are really that good on making short trades
and this is why they do really choose up on holding and they are minding on increasing price every now and then which they do forget that a market does have pumping and dumping state.

[STT]

20k a big round number, that alone could wake up a few buyers but I dont think we have high volume this particular Monday.   Its only the high volume events that really give us the best directional clue as to where we are heading otherwise we tend to drift a bit in speculation ping pong back and forth.     Either that or take the weekly bars and be prepared to wait around alot meanwhile.    
   We are back above the 2 day average but thats a very fast arbitrary measure, better to take the running weekly average for a sign of some strength that can last with some good inertia.     Last attempt was Friday and we failed with volume there, so now dont be too confident till we regain 21k and hold that price as a low.   We keep above weekly then 50 day average and it can start to develop into a positive market, I think we remain mostly neutral resolving sellers across this range of prices and yea not really Mt. Gox so much as just general market pressures.

[AjithBtc]

The price have made a bounce reaching above $20k and this is good for now. How this gets carried forward isn't a known fact. For now it is time to make use of the volatility. Because, few other events were consecutively scheduled for the upcoming month. By the time the market can experience a decline or else a uptrend. This is completely upon that moment. For now price movement is good for the week's progress.

[Wexnident]

I don't think $20k matters that much, the price has bounced here and there so far in here, The price has dipped below $20k in the past few days and before that, it came from above $20k, so we should be looking at somewhere above there for now, unless BTC drops down again to below $20k and stays for a fair bit there. I also don't think it's impossible to go down below with all the FUD that's come out with the Mt.Gox thingy, but it also won't last since people would probably rush to buy once the price drops.

[Findingnemo]

At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.

You said everything wrong, after 24 hours nothing changed literally nothing. Just now I checked the last 24 hours price change which is 0.2% that is too much negligible for bitcoin and it remains at 20K so there is no decisive day and no one can predict which day will be that day so better not to waste your time to find the perfect moment.

I hope you have not misunderstood my point, but from what you have said, you are absolutely right no body can predict the direction the price will go and if we are sincere with our self we are in for a long-term Bitcoin bear market and this has been witnessed in the price over the weeks past.

But at this point when Bitcoin touched the below 20k price yesterday before it quickly reband back to 20k, it shows some resistance level up which points to the fact that 20k is a strong resistance level.

Even I do accept that 20K has good resistance point simply because in the previous cycle it was the ATH price of bitcoin, apart from this I don't have any statistics analysis to prove my claim so I just go with my instinct.

A while back when bitcoin dropped to $17K in no time it hoped back to $23K region but it all happens naturally and no one can actually predict the next move even now if something disastrous happen even manipulation can bring down the prices further.

[samcrypto]

Prices below $20k have happened several times in 2022, and it only took less than a week to get back to the $20k level, and I'm glad yesterday bought around $230 when the price was $19700, if selling now it would have been more than 5% profit, but I will hold or buy more even if the price is already over $20500.

The price can recover easily once we hear a good news, but right now we are still struggling and aiming for that resistance level and it seems very hard for BTC. We have to deal for a cheaper price for now and take this chance to accumulate more, BTC might go and test another bottom so watch for the price signal before you buy. 2022 is a year of pump and dump, better choose your best side now and keep holding.

[South Park]

Prices below $20k have happened several times in 2022, and it only took less than a week to get back to the $20k level, and I'm glad yesterday bought around $230 when the price was $19700, if selling now it would have been more than 5% profit, but I will hold or buy more even if the price is already over $20500.

The price can recover easily once we hear a good news, but right now we are still struggling and aiming for that resistance level and it seems very hard for BTC. We have to deal for a cheaper price for now and take this chance to accumulate more, BTC might go and test another bottom so watch for the price signal before you buy. 2022 is a year of pump and dump, better choose your best side now and keep holding.

I personally think that we are in one of those market conditions in which even if we got good news that could affect positively the fundamentals of bitcoin I do not believe there is going to be too much of a positive movement in the price of bitcoin, and this is because the economy is in such bad shape right now, and the prospects are that things are going to get much worse before they improve, that this is making a lot of people to think about it twice before investing in bitcoin, and even if I think it is the right decision to buy bitcoin now, there is not a lot people that are willing to hold their coins for long enough to see the next bull market.

[TravelMug]

A lot of speculation has been ditched out in the last 48 hours since Bitcoin battled to retain the 20 thousand dollars price even though some expect has predicted a more bearish market in the next month, and some others are of the view that the 20 thousand dollars price is the bearest minimum Bitcoin could fall back to.

At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.

We did try to manage to go above $20k, but then again in the last 12 hours or so, volume was busy and there are a lot of sell orders again, and as per cmc, $19,698.

I think we will go above $20k again, as this is a big mental support for traders. Maybe those speculators are selling for quick flip profit. Nevertheless long term holders are going to buy at this price again and take advantage of the sub $20k price.

[btc78]

A lot of speculation has been ditched out in the last 48 hours since Bitcoin battled to retain the 20 thousand dollars price even though some expect has predicted a more bearish market in the next month, and some others are of the view that the 20 thousand dollars price is the bearest minimum Bitcoin could fall back to.

At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.

20k resistance did not stand long because after few days of staying in that position ? now Bitcoin had lost its chance to 20k positioning and now maintaining 19k price.

https://coinmarketcap.com/currencies/bitcoin/

Am not sure but it looks like bitcoin stays again back to 20k above?

but this is not completely strong until the price maintain the 25k above value in which only stays 1 day weeks ago.

But what i have been reading since last week is that bitcoin will plunge to 17k and indeed this is the time to buy more.

actually there is more on 13k dropping that speculator had mentioned mid of this year but until now it seems to be far from happening.

[Kemarit]

A lot of speculation has been ditched out in the last 48 hours since Bitcoin battled to retain the 20 thousand dollars price even though some expect has predicted a more bearish market in the next month, and some others are of the view that the 20 thousand dollars price is the bearest minimum Bitcoin could fall back to.

At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.

We did try to manage to go above $20k, but then again in the last 12 hours or so, volume was busy and there are a lot of sell orders again, and as per cmc, $19,698.

I think we will go above $20k again, as this is a big mental support for traders. Maybe those speculators are selling for quick flip profit. Nevertheless long term holders are going to buy at this price again and take advantage of the sub $20k price.

We did just now, $20,300 ain't that bad after going below it and others might nervous and panic when it see the price going hard below that support line. nevertheless, we all know how resilient Bitcoin is in defending it's price support.

Maybe in the next 2 weeks, the price will go up again, to $25,000 that was the last great price increased we have two weeks ago before it went crazy downward again. So hopefully this will be the case so this is another great opportunity to bag some BTC and wait till it pop up again next month.