The low support level may still be tested during 2023.

[Don Pedro Dinero]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Based on past cycles it is unlikely, but not impossible. The point is that it is better to look at the big picture and think about where bitcoin will be in 4 or 8 years for example, and you will be much better off if you buy bitcoin now and you hold it until then than if you do not. If it goes down a bit in the next few months it is a noise that should not bother us.

[jaberwock]

Good news is getting more and more coming and I'm sure the Bitcoin support level has been reached at the end of 2022 which reached $ 16k,
and now the bitcoin price is still above $ 20k I don't think this year has touched a new support level anymore but we in 2023 can reach this level resistance,
moreover Good news from China can be a booster for the crypto market.

I think you are thinking about the Bitcoin halving because we are getting closer to it and many people feel bullish about it. There are other good news too like the China re-allowing cryptos but I think that wasn't new anymore. As of now, we mostly get a bad news about the crypto regulations and targeted country was the US.

Let's just hope that it won't escalate from banning the cryptos there because that will make the price dump even more. Each year, there will always be a support level for the crypto prices. In 2022, it was $16k but this year I think it was $27k so far although this might change later on because we still have more months left to finish the 2023.

[fzkto]

Good news is getting more and more coming and I'm sure the Bitcoin support level has been reached at the end of 2022 which reached $ 16k,
and now the bitcoin price is still above $ 20k I don't think this year has touched a new support level anymore but we in 2023 can reach this level resistance,
moreover Good news from China can be a booster for the crypto market.

I think you are thinking about the Bitcoin halving because we are getting closer to it and many people feel bullish about it. There are other good news too like the China re-allowing cryptos but I think that wasn't new anymore. As of now, we mostly get a bad news about the crypto regulations and targeted country was the US.

Let's just hope that it won't escalate from banning the cryptos there because that will make the price dump even more. Each year, there will always be a support level for the crypto prices. In 2022, it was $16k but this year I think it was $27k so far although this might change later on because we still have more months left to finish the 2023.

In the last few days there has been talk everywhere about blackrock and new etf. I think that is the best good news in a while. These guys have been buying cheap bitcoin and will soon be selling it at inflated prices. The price has bounced back nicely today. If buying volumes show up soon, we can expect a new rally for bitcoin. There is really a lot of positive news so far.

[imamusma]

Based on past cycles it is unlikely, but not impossible. The point is that it is better to look at the big picture and think about where bitcoin will be in 4 or 8 years for example, and you will be much better off if you buy bitcoin now and you hold it until then than if you do not. If it goes down a bit in the next few months it is a noise that should not bother us.

Of course that should be seen as an opportunity rather than a distraction. I wouldn't necessarily say that a drop in the price or correction in the price of bitcoin is a bad thing, but it is a good thing to support the idea of ​​accumulation and reserve plans for investors. Buy now and hold for the long term, that's the best advice if they want to get good returns if a new ATH of bitcoin occurs in 2 years from now.

[Silberman]

Of course that should be seen as an opportunity rather than a distraction. I wouldn't necessarily say that a drop in the price or correction in the price of bitcoin is a bad thing, but it is a good thing to support the idea of ​​accumulation and reserve plans for investors. Buy now and hold for the long term, that's the best advice if they want to get good returns if a new ATH of bitcoin occurs in 2 years from now.

This is a very straightforward strategy and even then the majority of the people are going to be unable to perform it as they should, and this is because even a holding period of two years seems to be too long for them as what they are really looking for is to obtain massive profits by investing in a shitcoin and multiply their money many times over in a matter of months, and when someone has that kind of expectations then holding bitcoin seems like a very slow method to make money.

[rby]

I'm not sure what will happen in the short term, but today especially in the last hour bitcoin price has found a new dip. There is an opportunity to buy, but do it with DCA. Here is a chart for 1 day TF.

This is 7days you made this analysis. Although after you posted this chat, bitcoin dipped more below the 25k range I have always considered to be a strong support. But the good news is that bitcoin didn't last below 25k for upto 24hrs. But as of today, bitcoin has made upto 4% rise with reference from this infographic.
The market isn't really prepared for any drama of price yet, it is just the SEC and Binance, Coinbase drama that is fluctuating the market.  But I do not bother much because the target is halving.

[STT]

I'd be fairly surprised if BTC was especially negative in 2023, the negative part of what price action is doing is to be sideways often.   Dreary more then disastrous, staid more then seriously sick :p  Bit less drama I reckon might be in order, the positive attempts higher can fade out but so can the swoops down low I think.
      Right now today we're breaking above the 50 day average which does qualify as positive and its not done this since falling below start of May.

[indah rezqi]

I'd be fairly surprised if BTC was especially negative in 2023, the negative part of what price action is doing is to be sideways often.   Dreary more then disastrous, staid more then seriously sick :p  Bit less drama I reckon might me in order, the positive attempts higher can fade out but so can the swoops down low I think.
      Right now today we're breaking above the 50 day average which does qualify as positive and its not done this since falling below start of May.

The price swings in the last 24 hours have been quite encouraging, of course as bitcoin has managed to break through the supposedly strong resistance of $30k. So far I'm not panicking even though the market could correct after another $30k break today, but it is proof that markets sometimes do unexpected things.

BlackRock is the fundamental that may have contributed to the pumping of bitcoin price since last week, but I hope this isn't a trap that's just been in for a while. Of course I would expect a higher peak, say $35k - $40k if the trend continues.

[savetheFORUM]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Based on past cycles it is unlikely, but not impossible. The point is that it is better to look at the big picture and think about where bitcoin will be in 4 or 8 years for example, and you will be much better off if you buy bitcoin now and you hold it until then than if you do not. If it goes down a bit in the next few months it is a noise that should not bother us.

4 to 8 years is a very long time and one will barely be able to hold for that long, considering there will be a lot of bear and bull cycles in between these years, it will be much more profitable if someone buys and sells at the perfect intervals between these bear and bull cycles instead of just holding whether the market is up and down. If I have bought Bitcoins when it was at around $16k or $17k and then it goes above $60k, I would probably sell as soon as I see the market coming down and wait for the next cycle.

That way, I will earn profits from the dips and will also profit if the market goes very high, by the time 8 years have passed, I will have earned way more than what I could earn if I only held for all these years. That is what I would do, I'm not sure about others though.

[Semar Mesem]

Until now there has been no major support that could create panic to buy, in 2021 a fantastic increase occurred because Elon musk actively tweeted about cryptocurrencies so that new users increased significantly, and until now there has been no major trigger that could make prices skyrocket.

[dragonvslinux]

I think the one aspect that is becoming clearer is that the further price moves above $30K, the less likely that price will retest lower levels below $20K. So far in the past 6 months Bitcoin has seen a very "orderly", somewhat predictable way in which it has risen. It hasn't been purely parabolic and has had significant healthy corrections along the way, at resistance levels followed by recovery at support levels. Very textbook.

For example we've already seen a correction from $25K to $20K, then $30K to $25K, so let's not be surprised to see $35K back to $30K and then continue on from there. Just like at $20K as well as $25K many were expecting a deeper correction, as is common with Bitcoin, but so far this hasn't been the case and there's not much reason to assume it's possible either after a sustained 6 month rally to the upside.

[Silberman]

4 to 8 years is a very long time and one will barely be able to hold for that long, considering there will be a lot of bear and bull cycles in between these years, it will be much more profitable if someone buys and sells at the perfect intervals between these bear and bull cycles instead of just holding whether the market is up and down. If I have bought Bitcoins when it was at around $16k or $17k and then it goes above $60k, I would probably sell as soon as I see the market coming down and wait for the next cycle.

That way, I will earn profits from the dips and will also profit if the market goes very high, by the time 8 years have passed, I will have earned way more than what I could earn if I only held for all these years. That is what I would do, I'm not sure about others though.

It is widely known that if a trader can indeed buy and sell an asset at the right time that they will make more money than an investor, however the question is can you do it? If you are one of the few people which can do this then by all means become a trader and make money this way, however the majority of the traders are unable to do this, and with this in mind it would be better for them to just become investors and hold their coins for many years.

[STT]

The low support is being tested along the whole of 2023 but what makes it bullish is each test is higher then the last hence we do have a rising trend even if its not got everyone happy all the time.  The most reliable trends are not especially obvious but vary downwards, it still counts positively overall.
   All I'm looking for right at this moment is the performance of BTC over this month and the next vs steady averages like 50 day and 200 week.   If we maintain above both BTC price action is doing very well and we should not expect such massive variance as to go anywhere near the absolute lows.   If we lose the 50 day average and stay above 200 week then I'd say more middling performance but still imo bullish considering how negative and deep the pullback of 2022 progressed.

[philipma1957]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

So far you do not look good with this thread.

But maybe you are right who knows.

[Velemir Sava]

The low support is being tested along the whole of 2023 but what makes it bullish is each test is higher then the last hence we do have a rising trend even if its not got everyone happy all the time.  The most reliable trends are not especially obvious but vary downwards, it still counts positively overall.
   All I'm looking for right at this moment is the performance of BTC over this month and the next vs steady averages like 50 day and 200 week.   If we maintain above both BTC price action is doing very well and we should not expect such massive variance as to go anywhere near the absolute lows.   If we lose the 50 day average and stay above 200 week then I'd say more middling performance but still imo bullish considering how negative and deep the pullback of 2022 progressed.

There are many indicators that need attention, both on charts and candlesticks, but for all those who have a problem here when bitcoin will definitely go up and it will definitely go down and one way to see it is to see the green dot candle stick for recommendations to buy / long, red dots for recommendations to sell / short.

[waONE]

The low support is being tested along the whole of 2023 but what makes it bullish is each test is higher then the last hence we do have a rising trend even if its not got everyone happy all the time.  The most reliable trends are not especially obvious but vary downwards, it still counts positively overall.
   All I'm looking for right at this moment is the performance of BTC over this month and the next vs steady averages like 50 day and 200 week.   If we maintain above both BTC price action is doing very well and we should not expect such massive variance as to go anywhere near the absolute lows.   If we lose the 50 day average and stay above 200 week then I'd say more middling performance but still imo bullish considering how negative and deep the pullback of 2022 progressed.

There are many indicators that need attention, both on charts and candlesticks, but for all those who have a problem here when bitcoin will definitely go up and it will definitely go down and one way to see it is to see the green dot candle stick for recommendations to buy / long, red dots for recommendations to sell / short.

I think bitcoin and candlestick prices will never be accurate, yes maybe 10% accurate and 90% not accurate,
because volatility in the crypto market is different from the forex market, if you pay attention you can use technicals such as MA indicators,
or maybe use trendline support resistance and usually things it was successfully carried out by traders.

[Silberman]

There are many indicators that need attention, both on charts and candlesticks, but for all those who have a problem here when bitcoin will definitely go up and it will definitely go down and one way to see it is to see the green dot candle stick for recommendations to buy / long, red dots for recommendations to sell / short.

I think bitcoin and candlestick prices will never be accurate, yes maybe 10% accurate and 90% not accurate,
because volatility in the crypto market is different from the forex market, if you pay attention you can use technicals such as MA indicators,
or maybe use trendline support resistance and usually things it was successfully carried out by traders.

That may seem bad but when you think about it this may not be the case, if someone decided to enter and exit the market randomly then this means than on average they should win 50% of their trades and lose 50% as well, if whatever trading method they were using gave them a 10% edge then they will win 55% of their trades and lose 45%, and while this may not sound as impressive as the stats scammers claim to have, this is more than enough to generate profits if you know what you are doing.

[GeorgeJohn]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

Nobody can predict bitcoin or neither control the degradation in price and increment in price, its very obvious that the price of bitcoin is rational and never be stable or constant at any point in time,  what really determine the increment and decrement of bitcoin is the market demand and market supply, so I believe that bitcoin have to act in any capacity it wants because its been regulated or moved in price due what is been determined in the crypto market. As it stance bitcoin price can high tomorrow getting the next day the price destabilise, so it's the nature of crypto market.

[fzkto]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

Nobody can predict bitcoin or neither control the degradation in price and increment in price, its very obvious that the price of bitcoin is rational and never be stable or constant at any point in time,  what really determine the increment and decrement of bitcoin is the market demand and market supply, so I believe that bitcoin have to act in any capacity it wants because its been regulated or moved in price due what is been determined in the crypto market. As it stance bitcoin price can high tomorrow getting the next day the price destabilise, so it's the nature of crypto market.

Of course no one can predict the price movement, but there are probably levels that bitcoin will never return to again. Bitcoin has tested the 1k level several times before. In the last five years, bitcoin has tested 3k several times. This year it was 15k. Probably in a few years or maybe a year we will see 15k again.

[OgNasty]

Looking at the chart it sure seems like we're at a decision point.  The market can retest $20K or it can shoot up to $40K, but I don't think it sits where it is now for too long.  With all the ETF news being the big talk in the market, I think a move to $40K is more likely but we'll see.  The elephant in the room remains mtgox and I feel like distribution should come around the end of the year, so we'll have to see how that goes before really being able to make a good determination of where the market goes from $40K.