Is the $17,000+ bitcoin price breakout benchmark to new price direction

[Fara Chan]

In Bitcoin's move through the $17k new value in recent days Bitcoin we saw Bitcoin starting to show bullish fangs and to the delight of some of its investors, we ourselves are very pleased with what is happening in the market, the rise of Bitcoin brought several other Altcoins to rise as well, which we are now waiting for saw a significant market change rocketing upwards in early to late this year.

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[michellee]

And until now, the price of bitcoin is still able to stay at $ 17k even though there have been several corrections that have occurred in bitcoin but bitcoin can still last longer. The bitcoin price can go down again and there is a possibility of a return to a lower level than the previous price but we hope that will not happen. And if there is a deeper correction, let's hope the price stays in the $17k range and doesn't drop further down. The bitcoin price will start to gain traction after the first quarter of the year passes well and the price doesn't drop below $17k.

[slapper]

There might be no significant improvement at all. This movement is a small response from buyers after many weeks of selling. 

The hype has been over so unless you are a day trader or a swing trader, you should only focus on accumulating bitcoin without overthinking its price. New glory will return, but I suspect it will happen in 2023. Late 2024 is what I expect

[Zaguru12]

And until now, the price of bitcoin is still able to stay at $ 17k even though there have been several corrections that have occurred in bitcoin but bitcoin can still last longer. The bitcoin price can go down again and there is a possibility of a return to a lower level than the previous price but we hope that will not happen. And if there is a deeper correction, let's hope the price stays in the $17k range and doesn't drop further down. The bitcoin price will start to gain traction after the first quarter of the year passes well and the price doesn't drop below $17k.

I also believe that the first quarter of the year will be bearish. Even with its recent upsurge to $17K I see it coming down to the 16K mark since it has find support there. The second quarter of the year might see it at the $20K+ price. Then if it finds support there for a longer time and without any major saga like FTX then we might be able to test bullish period in the last quarter. As it is right now there’s isn’t any thing to be concerned about just accumulate by averaging

[Davian144]

In Bitcoin's move through the $17k new value in recent days Bitcoin we saw Bitcoin starting to show bullish fangs and to the delight of some of its investors, we ourselves are very pleased with what is happening in the market, the rise of Bitcoin brought several other Altcoins to rise as well, which we are now waiting for saw a significant market change rocketing upwards in early to late this year.

The increase in the price of Bitcoin cannot be said to be significant because the current price range is still very far from the all-time high that has ever happened to Bitcoin. In the last 24 hours the price of Bitcoin has touched $17,398.8 on the exchanges that I saw and it's still not very significant for Bitcoin because it's still under $18K. I just hope that Bitcoin can have a gradual increase every month before a new ATH is formed, because I still imagine that a correction can still occur suddenly in Bitcoin this year.

[Ojima-ojo]

In Bitcoin's move through the $17k new value in recent days Bitcoin we saw Bitcoin starting to show bullish fangs and to the delight of some of its investors, we ourselves are very pleased with what is happening in the market, the rise of Bitcoin brought several other Altcoins to rise as well, which we are now waiting for saw a significant market change rocketing upwards in early to late this year.

Yes, but the price of Bitcoin has been dangling around d that 17k price for over 24 hours now and there has been significant market pressure for the price of Bitcoin to pull up to 17500 but the bear market is still putting intense pressure to pull the price down.

But we believe that in the coming days ahead bitcoin will make a further market recovery because the market is already recovering from the many crises that faced the market in 2022 which have put pressure on the market pressure that led to the collapse of many token and coins market, but some of those altcoins are recovering at the moment.

[stomachgrowls]

No I don’t think breaking $17k means anything. We can still go back in the range. I think once we break $20K and regain the 200WMA then there is a confirmation we might of bottomed.

I think this don’t happen anytime soon. We will most likely chop for many months until we get a clear trend of what is happening with the macro market. This week will be CPI and will clue in how the rest of the quarter will look like.

Really hard to tell since we've bee able to test out this range for how many times which the price is trying to break that $20k but it do fails up when it do hit up that 17-18k resistances which it is really that hard to make

some breakout which anything it do touches up the ceiling then it do bumps down or been rejected.No one really knows if this current small steps would be able to hit up that 20k in few months or weeks.
It is really that hard to make out some decisions if we do see that there arent much news or events on the market or around just to make out some investment decisions.
We do need up that catalyst because it is really that putting in doubts whenever we cant see anything.

[STT]

Well I have to classify the outlook for the moment as optimistic.   I drew these lines last year (thats ages right) and its pushing past with a 50 day average (in blue)also ascending also is a positive sign to include in assessment.   I do think 20k is more important then these levels but it cant be ignored that we've been this low for so long and are leaving it behind.  Would be nice if we built a base here and its been the groundwork for more positive price action.  Longer term its the 20k level and that 200 day in yellow that is a proper challenge but we can rise to that area

[Ojima-ojo]

In Bitcoin's move through the $17k new value in recent days Bitcoin we saw Bitcoin starting to show bullish fangs and to the delight of some of its investors, we are very pleased with what is happening in the market, the rise of Bitcoin brought several other Altcoins to rise as well, which we are now waiting for saw a significant market change rocketing upwards in early to late this year.

Not sure how long that bullish look will continue last with Bitcoin, but I am very happy that this is happening right now when many did not expect such a price recovery, but seeing bitcoin above $17,000 is a big relief for most investors at least after a long period of a bear market, seeing a bullish recovery move is a big relief.

Let's just hope this momentum will be continued, and as such we will see more significant price benchmarks in the coming days.

[capedbaldy]

Not sure how long that bullish look will continue last with Bitcoin, but I am very happy that this is happening right now when many did not expect such a price recovery, but seeing bitcoin above $17,000 is a big relief for most investors at least after a long period of a bear market, seeing a bullish recovery move is a big relief.

Let's just hope this momentum will be continued, and as such we will see more significant price benchmarks in the coming days.

We can't predict future prices but the market hasn't hit a recovery high and isn't bullish yet, if you compare last december prices there may have only been a $1K increase in price but good impact for a positive move in the first quarter of this year, we are already feeling confident that current price movement could signal that the market will be bullish this year.

[bitterguy28]

No I don’t think breaking $17k means anything. We can still go back in the range. I think once we break $20K and regain the 200WMA then there is a confirmation we might of bottomed.

I think this don’t happen anytime soon. We will most likely chop for many months until we get a clear trend of what is happening with the macro market. This week will be CPI and will clue in how the rest of the quarter will look like.

it is as we are at least more than a year before Halving so in this behalf I trust your prediction that  chopping for another months will take effect and also expecting so much this year or month just because of small increase this January isn't enough to make me believe that bottom had been over.
lets see in the coming at least before December? if we truly break that 20k and starts heading up more then i must take that to be benchmark to new direction .

[Poker Player]

Is the $17,000+ bitcoin price breakout benchmark to new price direction

No. The price will fall back below $17k before it can spend more than 5 days above $17k. There is no path for bitcoin to sustain greater than 5 consecutive days above $17k this year. We could possibly see it in 20-30 years when bitcoin is a digital collector's item, but by that time the cheapest Toyota EV will cost over $100k and a starter home will be over $1m.

With that exceptional predictive ability you have, you must be tweeting from your yacht on your way to your private island, right? One of these days, apart from being a big mouth, you could post proof of how you short Bitcoin and make money with it.

In response to the OP, I think this year is going to be one of slight rises, but we are very low and the normal thing is to go up, but we should not be too excited about the slight rise of these days that may be due to pure variability in the short term, there is still a long year ahead....

[Yaunfitda]

Not sure how long that bullish look will continue last with Bitcoin, but I am very happy that this is happening right now when many did not expect such a price recovery, but seeing bitcoin above $17,000 is a big relief for most investors at least after a long period of a bear market, seeing a bullish recovery move is a big relief.

Let's just hope this momentum will be continued, and as such we will see more significant price benchmarks in the coming days.

We can't predict future prices but the market hasn't hit a recovery high and isn't bullish yet, if you compare last december prices there may have only been a $1K increase in price but good impact for a positive move in the first quarter of this year, we are already feeling confident that current price movement could signal that the market will be bullish this year.

But still a good start for year 2023, and it seems that investors have forgotten already the FTX debacle and that's why they are pouring their money in the market again pushing it above $17k once more.

Hopefully this can be maintained at the end of the year, maybe the Feds will make a pivot again when they released their CPI and this could be a good news for us as it might signal a bullish return for this month.

[michellee]

And until now, the price of bitcoin is still able to stay at $ 17k even though there have been several corrections that have occurred in bitcoin but bitcoin can still last longer. The bitcoin price can go down again and there is a possibility of a return to a lower level than the previous price but we hope that will not happen. And if there is a deeper correction, let's hope the price stays in the $17k range and doesn't drop further down. The bitcoin price will start to gain traction after the first quarter of the year passes well and the price doesn't drop below $17k.

I also believe that the first quarter of the year will be bearish. Even with its recent upsurge to $17K I see it coming down to the 16K mark since it has find support there. The second quarter of the year might see it at the $20K+ price. Then if it finds support there for a longer time and without any major saga like FTX then we might be able to test bullish period in the last quarter. As it is right now there’s isn’t any thing to be concerned about just accumulate by averaging

After experiencing a decline in the past few days, it looks like bitcoin is gaining ground again as we see its price increase. It seems that the condition of the bitcoin price will go back up and down as before but there is a possibility that the price will continue to increase little by little. And after this first quarter, we may see an even higher increase from the current price. But we must always be vigilant because the price of bitcoin can go anywhere and if it means that the price goes down again, we have to use it to buy more bitcoins.

[mich]

Well I am 'bullish' but think we will fall back down below 17k again. There is so much fud in the news right now and also with Binance which customers withdrew $360 million just on last Friday.
I think there are potentially new investors that are nervous and worried about putting their fiat in to Bitcoin at the moment. MicroStrategy who said they will never sell their coins have sold 13.5% of the holdings.  HODL your crypto because this new year 2023 might be a bumpy road. 

[Minor Miner]

Well I am 'bullish' but think we will fall back down below 17k again. There is so much fud in the news right now and also with Binance which customers withdrew $360 million just on last Friday.
I think there are potentially new investors that are nervous and worried about putting their fiat in to Bitcoin at the moment. MicroStrategy who said they will never sell their coins have sold 13.5% of the holdings.  HODL your crypto because this new year 2023 might be a bumpy road. 

What Fuds about Binance are you referring to? The Fuds I hear about is the controversy between Gemini and DGC, both are accusing each other, and it is worth mentioning that they are from the same company, and one news that is not too important is that cryptodotcom has delisted USDT in the Canadian market. But all is overshadowed and what everyone is most looking forward to right now are the Fed meeting and CPI news.

I also think this is not a sign of bulls in the market but we can expect a short-term rally in January. We need to be careful because it is most likely just a market price trap of gullible people.

[Taskford]

And until now, the price of bitcoin is still able to stay at $ 17k even though there have been several corrections that have occurred in bitcoin but bitcoin can still last longer. The bitcoin price can go down again and there is a possibility of a return to a lower level than the previous price but we hope that will not happen. And if there is a deeper correction, let's hope the price stays in the $17k range and doesn't drop further down. The bitcoin price will start to gain traction after the first quarter of the year passes well and the price doesn't drop below $17k.

I also believe that the first quarter of the year will be bearish. Even with its recent upsurge to $17K I see it coming down to the 16K mark since it has find support there. The second quarter of the year might see it at the $20K+ price. Then if it finds support there for a longer time and without any major saga like FTX then we might be able to test bullish period in the last quarter. As it is right now there’s isn’t any thing to be concerned about just accumulate by averaging

After experiencing a decline in the past few days, it looks like bitcoin is gaining ground again as we see its price increase. It seems that the condition of the bitcoin price will go back up and down as before but there is a possibility that the price will continue to increase little by little. And after this first quarter, we may see an even higher increase from the current price. But we must always be vigilant because the price of bitcoin can go anywhere and if it means that the price goes down again, we have to use it to buy more bitcoins.

Scenarios like this always happen all the time so I maybe if there's no news that can move the mountain then maybe we can see this to happen until next month. But hopefully there are big news that will surprised up the market which can contribute to all people to feel that they need to accumulate so that we can see some constant good changes on the market so that those other accumulators will go alive again.

[Woodie]

I really hate being a total utter killjoy and while I'd really love bitcoin to go on a bull market already, are we really getting bullish over this, this soon?



Like come on.

Looking at price action and how candles have printed, this certainly looks like we trading a pullback which many of us are calling a bullish run but this is to early to call! But should we break the $22000 & $25000 price then market direction could change for certain.

Well I am 'bullish' but think we will fall back down below 17k again. There is so much fud in the news right now and also with Binance which customers withdrew $360 million just on last Friday.

Certainly not yet bullish just a pullback and Binance users withdrawing their cash is because many use these guys as a wallet service but now the message has been delivered , "Not your private key, Not your coins" and people are simply protecting their assets.

I think there are potentially new investors that are nervous and worried about putting their fiat in to Bitcoin at the moment.

I thought Investors aren't short sighted, aren't they suppose to be buying from the weak hands.

[Wexnident]

Well, it's definitely better, but not really an indication that we're going bullish. I reckon a break over the $20k would be the minimum at least to call it at that, and that's just the minimum. Still, it is much better and looks more optimistic now since we've finally started seeing some increase in the market ever since that dip a few months back. Currently doing a slow and steady pace of increase with a few days of steady movements which would hopefully continue till $20k maybe before stagnating for a few months again.

[CageMabok]

It is still very possible that the price will decline again. But for today the market is showing positive signals specifically on Bitcoin. If many speculate that 2024 is a possible year to see ATH, then at first glance the speculation is starting to come closer based on today's price situation.
We still consider the current price increase the first step to jump to the $20K price point.

Stay calm and never doubt the future of Bitcoin.

I am still very calm and also do not doubt the future of Bitcoin which has proven good through its history. And if the current increase is any indication of a jump to $20k or a prelude to going to the next ATH next year, I will be even more pleased if this proves to be true and my enthusiasm for continuing to hold Bitcoin also increases.

At the moment I only expect an increase in Bitcoin without considering the possibility for a decline that can still occur, because at that time there is no bad news or news that can scare investors and traders who are often in the market. I believe that Bitcoin will find it easier to get a price increase even though it looks very slow in its movement for now.