Where next for Bitcoin: $20K or $50K?

[dragonvslinux]

How long do we need to confirm one of these two directions, closing Sunday, a week or a month?

No time period, consider it indefinite, until one of the other target is reached.  As the question simply asks: "Bitcoin price will next go to..."

So this isn't about whether Bitcoin will be bullish or bearish for the next 6/12 months, but which price will first be reached.

I see that the lack of continuity of the increase, meaning that we did not witness 32k, indicates the end of the bullish trend, and therefore either maintaining the current level or returning to the nearest long-term resistance level, which is 26k, and thus confirming the bear market for the next 6 months, so that we will remain in the range between 25k to 32k.

Wow, that's a lot of bearish sentiment without much confirmation imo. Right now I see price has reached $30K and is consolidating, which is far from bearish. For the past 3 weeks many speculators were bearish that price couldn't get above $29K and therefore thought it was a must that price would correct to the downside. I would have hoped people would of learnt the lesson about consolidation at the highs not being bearish, even if also lacks confirmation of further upside. I'm also not sure what you were hoping for, an immediate move from $29K to $32K? We could easily see $32K in the coming days after consolidation.

I only really see a pull-back if price fails to maintain >$28K, that's the previous support and consolidation zone, then for sure a re-test of $23K or $25K becomes highly likely. Maybe even lower if there is a lot of selling pressure breaking below previous support. On the other side I'm not uber-bullish while price is at a potential resistance level until Bitcoin can get above $32K and clear the previous long-term support zone.

But overall, I struggle to be bearish while price is consolidating at the highs and attempting to reclaim a 18-month support level. If anything, it's a bullish sign that price hasn't see a strong rejection yet.

This time, I only see a price range for Bitcoin between $25k and possibly $45k by the end of Q2 of the year.

I think you failed to answer the question 

[DiMarxist]

Who knows, Bitcoin, the market to surprise and make new history can excite us even more by making profits faster. But in the long run, that makes bitcoin even more unpredictable, and we will have a harder time in the next cycles. no body is able to predict what will happen next, next correction can range to $20k or hit $50k. The correction could cost us a strong blow that would pull the price down near $20k, or rise to hit $50k.  But at this moment 2023 bitcoin is $30  it's was in the price this year may beat a new  ATH, today Bitcoin price is good or is not bad at the current position.  As we slowly pass through the bear market period.

[Mate2237]

The prediction is still going on, last week bitcoin was in between 27k-29k and coming to this week it has entered 30k but people predicted that this month it will enter 30k and come down to 10k again after the slide rise of the market but the movement might not come down again to 10k and before this year will end the market, might climb up to 45k. But in normal sense bitcoin price is unknown. Nobody knows the next second movement of the market. Everyone can just give a guess work. Some people are saying that the bear market is over well I will not argue with them because everyone has their own prediction.

When bitcoin was 16k there was a time it increased to 26k and still came down to 16k again. And since I understand the market I was not bothered.

[Ndabagi01]

To be frank, a bitcoin price of $50,000 is unlikely to occur very soon. That's a significant increase from the $30K it recently entered. I believe the price will continue to rise, although with a few setbacks for adjustment before reaching the $50,000 threshold. The bull run and halving are still a long way off; the price may have risen past the $50,000 mark before the halving occurs. I expect the price to remain below $30K until another surge occurs, which might lead to a price range of $33K - $37K before another correction occurs. By the end of the second quarter of this year, $50,000 is quite likely to be within reach.

[dragonvslinux]

To be frank, a bitcoin price of $50,000 is unlikely to occur very soon. That's a significant increase from the $30K it recently entered. I believe the price will continue to rise, although with a few setbacks for adjustment before reaching the $50,000 threshold. The bull run and halving are still a long way off; the price may have risen past the $50,000 mark before the halving occurs. I expect the price to remain below $30K until another surge occurs, which might lead to a price range of $33K - $37K before another correction occurs. By the end of the second quarter of this year, $50,000 is quite likely to be within reach.

Again this doesn't really answer the question what-so-ever, you are thinking too short-term (similar to others in this thread). Will price next reach $20K or $50K, regardless of whether it takes many months or years? Of course you are free to argue that price won't reach either, and will forever be stuck between $20K and $50K, but to me this seems unrealistic. At some point, price will reach one target or the other, surely.

[dunfida]

To be frank, a bitcoin price of $50,000 is unlikely to occur very soon. That's a significant increase from the $30K it recently entered. I believe the price will continue to rise, although with a few setbacks for adjustment before reaching the $50,000 threshold. The bull run and halving are still a long way off; the price may have risen past the $50,000 mark before the halving occurs. I expect the price to remain below $30K until another surge occurs, which might lead to a price range of $33K - $37K before another correction occurs. By the end of the second quarter of this year, $50,000 is quite likely to be within reach.

Again this doesn't really answer the question what-so-ever, you are thinking too short-term (similar to others in this thread). Will price next reach $20K or $50K, regardless of whether it takes many months or years? Of course you are free to argue that price won't reach either, and will forever be stuck between $20K and $50K, but to me this seems unrealistic. At some point, price will reach one target or the other, surely.

We've seen on how it performs back into those previous years where we did able to reach up numbers which we didnt even believe nor expect for it to to reach out that level.Therefore, we cant blame out people to have that kind of behavior on just going with the flow on whatever  the price it would be.The thing on here is that we should really be having that kind of mindset on where we do really make ourselves be wise on taking up
a position whether getting in on a possible bottom or support and later on we would really be making out profits on the time that the price had gone up. $20k or 50k, there's no way on predicting it
because this market had been unpredictable in the first place. Thing here is that you should really be prepared to blend up on whatever situations might happen ahead.

[crzy]

We’re going on a sideways trend after Bitcoin having a hard time to break the resistance.
I want to remain Bullish up to $40k this year and I think we are heading into that price slowly but surely. Corrections might also happen but I can’t see the price of $20k anymore, we are too bullish for that price especially on a monthly time frame. Bitcoin needs more good news, as we are approaching the next halving, this is a good sign of bull market.

[Webetcoins]

I'm not able to vote in the poll for some reason, it says it has either been locked or I have tried to vote twice while it was the first time I was trying to cast my vote. Anyway, if I could vote, I would definitely go with $20k, because that seems to be a more likely target from this point. Though we were all hoping for the price to cross $30k, it doesn't really look strong at the moment.

Bitcoin couldn't hold its price above $30k for very long, it has already dropped below and I think it will drop more in the coming days, we might not see it going specifically to $20k, but it will surely provide buyers another chance to get in on the ride way cheaper than now.

[taufik123]

-snip-
Bitcoin couldn't hold its price above $30k for very long, it has already dropped below and I think it will drop more in the coming days, we might not see it going specifically to $20k, but it will surely provide buyers another chance to get in on the ride way cheaper than now.

This depends on how the market fundamentals support or not, if there is some FUD that starts to appear Bitcoin will certainly correct soon.
To be able to stay above the $30k price requires a lot of technical and fundamental support.

Currently, Bitcoin's position in the 1D Time Fare is in the Uptrend Console area and is still trying to reach the Bullish Console Resistance in the $32k price area.
But if it fails to close above $29k at the end of this month, it will start to correct, or if there is FUD that appears, it will immediately correct.

To reach a much cheaper correction trip like $20k than you expect, is still quite difficult because of some strong supports that must be broken to get there.

Support $26k, $24k and most recently $21.6k


Bitcoin's journey is still quite long, some corrections will certainly occur and this will also be influenced by market conditions and some FUD that will arise.
But hopefully, Bitcoin can stay above when the Support.

[BTCGalaxyA12]

I have already voted on the $50K price for Bitcoin's next move. But in April, I speculate that the Bitcoin price will move to the price of $35k and will stay at that price until the end of April.

At least I judge that inflation seems to be no longer a driving force behind the rally.
I have an assumption that if the Bitcoin price strengthening movement has started, the process will move slowly.

[bestcoins1]

I have already voted on the $50K price for Bitcoin's next move. But in April, I speculate that the Bitcoin price will move to the price of $35k and will stay at that price until the end of April.

At least I judge that inflation seems to be no longer a driving force behind the rally.
I have an assumption that if the Bitcoin price strengthening movement has started, the process will move slowly.

I also chose the $50K price tag in this case, because I thought it was much more logical than the $20K price tag. At present Bitcoin's condition has started to recover gradually with very good support in the market so it is clear that it has the possibility to continue moving and reach $ 50K even though this will not happen immediately this month because in fact for more increases it will always take time to achieved by Bitcoin.

[KingsDen]

To be frank, a bitcoin price of $50,000 is unlikely to occur very soon. That's a significant increase from the $30K it recently entered. I believe the price will continue to rise, although with a few setbacks for adjustment before reaching the $50,000 threshold. The bull run and halving are still a long way off; the price may have risen past the $50,000 mark before the halving occurs. I expect the price to remain below $30K until another surge occurs, which might lead to a price range of $33K - $37K before another correction occurs. By the end of the second quarter of this year, $50,000 is quite likely to be within reach.

50,000 dollars is to expensive to come at this time. Having being able to make that $30,000 does not guarantee that it will automatically go to 50,000 dollars.
The expected bull run during the halving is still far from now, so I do not expect that level of bullish markets to start from now.
I will be expecting some kind of correction back to the level of 20,000 dollars and 25,000 dollars and the price will remain there for a given period of time before it will make another movement above 30,000 dollar.

[Joshapat]

A big jump will occur if this week the price can reach $ 35k, investors will be more optimistic about bitcoin so that the important price right now is to touch $ 35k, but if next week the price drops below $ 30k then the chance for a pump to occur is very small so it takes longer to be able to rise again.

[irhact]

With price now at the 2021-2022 previous 18-month long support level around $30K, as highlighted, where do you think price will go next?
Is it finally time for a correction back towards the lows, or a continued relief rally towards $50K? Similar to $25K, this is a level where many speculators believe price might be strongly rejected, because the previous strong support level could well turn into new resistance.

Just my opinion but I support the speculation of a correction coming instead of a continuous pump because we have been rising for so long now and we shouldn't forget that we're still in the bear season and not out of it yet. The market is now getting too positive and most speculators are expecting Bitcoin to continue increasing but it mightn't happen that way.

My prediction are just short term as I'm positive in the long term but we'll likely see a pullback to $25k before we get to $50k or other higher price. If this correction was to happen then it'll be healthier for the market then the price to continue rising. I'm patiently waiting for my buy order at $25.500 to be filled.

[pooya87]

Is it finally time for a correction back towards the lows,

You can't correct a correction!
Going back up to $30k is only part of the correction to get bitcoin price back to a more realistic level that is closer to its intrinsic value. There is no logical reason to see it drop back down again. The only way we can see another drop is market manipulation and another wave of panic sells or when the economy crashes harder (at a different pace otherwise it is already crashing).

[LittleBitFunny]

With price now at the 2021-2022 previous 18-month long support level around $30K, as highlighted, where do you think price will go next?
Is it finally time for a correction back towards the lows, or a continued relief rally towards $50K? Similar to $25K, this is a level where many speculators believe price might be strongly rejected, because the previous strong support level could well turn into new resistance.

Just my opinion but I support the speculation of a correction coming instead of a continuous pump because we have been rising for so long now and we shouldn't forget that we're still in the bear season and not out of it yet. The market is now getting too positive and most speculators are expecting Bitcoin to continue increasing but it mightn't happen that way.

My prediction are just short term as I'm positive in the long term but we'll likely see a pullback to $25k before we get to $50k or other higher price. If this correction was to happen then it'll be healthier for the market then the price to continue rising. I'm patiently waiting for my buy order at $25.500 to be filled.

Not only have we grown steadily over the past few months, but I've seen many people believe that we'll continue to grow to $35k or $40k, and I agree with your thinking. Because when greed in the market starts to rise, which is also when bitcoin is likely to correct, bitcoin tends to go against the crowd rather than follow what the crowd wants.

$25k is probably good support for this correction, I hope bitcoin can get there, and it would be great if it can get $22k, which is also a desirable price. If that happens, it will cause a new panic in the market and be an opportunity to place buy orders rather than fear.

[dansus021]

The weekly candle is still above 1200 EMA and currently retesting at fibbo based trend and 30K is a crucial point it is a BIG MAJOR resistance.

So the choice is two we are gonna see side away for couple of days and continue running or we are gonna see a more steep correction to 26-28K and back to bull




back to your chart and my chart it looks very hard to break the major resistance now and according the RSI and other Indicator it seems the price is exhausting

[dragonvslinux]

Is it finally time for a correction back towards the lows,

You can't correct a correction!
Going back up to $30k is only part of the correction to get bitcoin price back to a more realistic level that is closer to its intrinsic value. There is no logical reason to see it drop back down again. The only way we can see another drop is market manipulation and another wave of panic sells or when the economy crashes harder (at a different pace otherwise it is already crashing).

I agree I don't really see a logical reason for price to drop back down to the lows, or even $20K for that matter, maybe $23K at most. But Bitcoin's price movement doesn't always have to be logical, or directly in line with it's fundamentals all the time. I don't think market manipulation would move price that far, but if the market get's over-leveraged long, there there good be a long squeeze black swan event for example.

back to your chart and my chart it looks very hard to break the major resistance now and according the RSI and other Indicator it seems the price is exhausting

Weekly RSI is testing overbought territory, that much is true, but I wouldn't necessarily say on it's own it means price is exhausted - only overbought. For example the last time Bitcoin's Weekly RSI entered overbought conditions was October 2020 at around $13K, which led to the run-up to $64K without much of a pull-back. Likewise in 2019 at $6K resistance level prior to reach $14K. In fact excluding November 2021 ATH, where there was bearish divergence and price getting rejected from these overbought conditions, when the RSI reaches overbought it usually stays there for a while and leads to a considerable increase in price.

The only sign I see of price being exhausted is the decreasing volume since November last year. That will need to change in order for price to move considerably higher.

[Poker Player]

Although we are closer to $20K than $50K, I believe like most of those who voted that it is more likely that the price will continue upwards, gradually, until it reaches $50k, without going back to $20 which seems to me too low for a dip, as it was the top of the previous cycle, and although as cycles progress it is normal for returns to be lower, it is still normal for lows as cycles progress to be higher.

I agree I don't really see a logical reason for price to drop back down to the lows, or even $20K for that matter, maybe $23K at most. But Bitcoin's price movement doesn't always have to be logical, or directly in line with it's fundamentals all the time.

This is key, although after a rise I would expect a dip, I think it will be higher than $20K, but we cannot predict with certainty with behavior as volatile as Bitcoin and less knowing that although there is some regularity in the cycles, the patterns we project won't necessarily repeat.

[GeorgeJohn]

A big jump will occur if this week the price can reach $ 35k, investors will be more optimistic about bitcoin so that the important price right now is to touch $ 35k, but if next week the price drops below $ 30k then the chance for a pump to occur is very small so it takes longer to be able to rise again.

That's not actually how it works for increments of bitcoin, if the price fails to rise within this week its not a clear evidence that it will not rise again, it can go down to twenty eight thousand (28k) and increase more than our expectations, so the market of cryptocurrency is unpredictable generally, and another thing is that Bitcoin can rise now due information that comes across of it now. Another scenario we can use to analyse the increments of bitcoin is when the gravity of people who is buying bitcoin is higher than the people supplying, that's is another indicator to proven that will have more time before the increments might manifest. And another thing is that since Bitcoin has been making a positive step throughout the beginning of the year to this extent it may increase more or not, so the increments of bitcoin is under probabilities and not guaranteed because its doesn't depends or rely on anyone.