Bitcoin may not hit $24,750 again in 2023 - I'm bullish till 2024

[hugeblack]

I tend to agree with you. The price showed a strong resistance level at $24,750, so that the price bounced from it repeatedly when it touched the price of this level. Therefore, it is logical to say that the price broke two resistance levels without very bad news. Therefore, we have levels at $30,900 and $27,779, which if broken, the price will be unable to break. $24,750 in normal condition.



This does not deny that we may return to levels of 30k.

[cryptomaniac_xxx]

I tend to agree with you. The price showed a strong resistance level at $24,750, so that the price bounced from it repeatedly when it touched the price of this level. Therefore, it is logical to say that the price broke two resistance levels without very bad news. Therefore, we have levels at $30,900 and $27,779, which if broken, the price will be unable to break. $24,750 in normal condition.



This does not deny that we may return to levels of 30k.

yes, it short there are resistance levels along the way before we can be broken to $24k'ish. And as the price goes on $34k and higher, the harder it's gets to go down at those levels. And it just shows that the market is really very bullish already last month and it might go till the end of the year.

Although we wanted to see lower price is we are still in the accumulation phase, but it seems that those days are behind us now. The price is going on a bull run and I'm seeing that around $40k-50k might be the end price this 2023, pre-halving.

[philipma1957]

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow.  A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

[Franctoshi]

My quick monthly chart analysis reveals that Bitcoin started its bullish journey after bottoming at $15,476 and a trendline support close to that level was never broken ever again to date. Instead, a bullish price action formed above that level, and the two bullish interpretations guided the market higher till this year amidst some turbulent rides as you can see with both bearish and bullish candles on the chart. The summary of the view this year judging by the whole candle pattern shows that it's all bullish. But this never hinted to me the assurance that Bitcoin might not know $24,750 anymore this year until there exists a double-bottom at the $24,750 and also a rekindled bullish price action right above the level.

For this, the recent bullishness might linger till next year, and I don't believe we would see the coin hitting $24,750 anymore in 2023.

Op,  I'm also in agreement with your point of analysis because having Bitcoin break such a strong resistance which the price formed at around $30k-$31k, and got rejected several times, from the technical analysis point of view a resistance break is turned into support, Therefore I expect in turn, That such level will act as strong support when the price comes into that zone, So, with just roughly two months before the end of the year, I doubt if the price will go below $28k let alone going back to test $24k, except if there is an event that will bring us way down to the price.

[goaldigger]

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow.  A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

This is very optimistic and also a possible scenario.
Yes, DCA is the best thing to do if you are bullish with Bitcoin and this might be the last thread that we will see the price of Bitcoin at a cheaper price. Bitcoin continues to hold on its current position waiting for another momentum to pump, think long term and stay positive with Bitcoin, better price are coming.

[Captain Corporate]

I have to point out that dropping and bear periods are a normal part of crypto world, so if it ever happens, we wouldn't be really shocked about it and that's why its not going to end up being all that weird. However, we need to realize that we are not going to end up with a result like this ever again probably, yes I wouldn't be shocked if it ever happens, but I do not think that it will happen. The best thing to do at this moment right now would be just expecting a bigger increase and a bull run because its going to be something special with the halving coming up. I understand its not going to be right away, but eventually we are going to get there and that's why I doubt it will go down anymore.

[LogitechMouse]

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

Of course there will always be a chance that it will still happen that's why OP used the word "MAY" to make himself safe.

Kidding aside, like OP has said, I'm also bullish for the next months until 2025 when I expect that the bull run will at it's peak. Well, I'm a believer of the 4 year cycle as I saw it happened 2x already (2017 & 2021) though I still believe that there's a chance that it might not follow that cycle. After all, the market is just full of probabilities, and there are no certainties.

You can still accumulate even though the price is increasing. You just only need to put a set price where if it reaches that prices, that's the time for you to stop, or at least lessen your accumulation of Bitcoin. On the other hand, if you still believe that Bitcoin will rise then I guess just continue accumulating. Just don't buy when it's at it's peak though.

[justdimin]

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow.  A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

Or late? But, there might be a good reason for it. It's not bad as if they only procrastinate or doubt about BTC. They are lucky that BTC still forgives them. It believes that anybody deserves a chance, even not a second. By the looks of his words, it seems that he is already DCA'ing and he will definitely continue, but I see no point of stopping it if ever $24k something occurs. He rather should buy more than usual if he wants more discount, as he said he loves discounts.

The only way for him or us to stop is when the price sky rockets really high because this is the moment for releasing our bags. Your call of $500k for future ATH seems too high for that year but if it happens why not? I'm also going to be thankful for that.

[bestcoins1]

This is very optimistic and also a possible scenario.
Yes, DCA is the best thing to do if you are bullish with Bitcoin and this might be the last thread that we will see the price of Bitcoin at a cheaper price. Bitcoin continues to hold on its current position waiting for another momentum to pump, think long term and stay positive with Bitcoin, better price are coming.

The current Bitcoin price is also a very good price when compared to the price in the previous two months, because being at $35K like now is a pretty good price improvement for Bitcoin holders who are waiting for the best momentum in the market. Currently, it is still good to continue doing DCA because it is almost a good thing to do at any time for anyone who wants to increase the amount of Bitcoin in their wallet or before releasing it at a more appropriate momentum.

[flyingcarpet]

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow.  A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

This is very optimistic and also a possible scenario.
Yes, DCA is the best thing to do if you are bullish with Bitcoin and this might be the last thread that we will see the price of Bitcoin at a cheaper price. Bitcoin continues to hold on its current position waiting for another momentum to pump, think long term and stay positive with Bitcoin, better price are coming.

Yes, I think this is a very optimistic approach. You need to consider every possibility. I think there is a possibility of price correction. Because a continuous price increase is not possible during this period.

I agree with you about DCA. Regardless of the price, it is best to buy regularly because I think it will take longer to reach the target prices. However, all decisions should be yours and you should manage your money yourself.

There is also a possibility of the scenario and there are many people who have such expectations. However, sometimes we do not know how the market will react to speculations, so every possibility must be taken into account.

[boltz]

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow.  A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

As much as I would love to see Bitcoin at 500k$ for 2025,  I find it quite impossible in the next bull run and the there are so many arguments to sustain this affirmation : wars , conflicts , expensive goods and so on. However, you're right about Bitcoin going by the end of the year as I could see Bitcoin price soaring towards 40k or even more and I expect to keep moving in this direction for entire of 2024

[GeorgeJohn]

Bitcoin price is rotational and also unpredictable because from the looks at things the price of bitcoin doesn't stay constant or consistent at random, but when peruse into bitcoin you know that, especially people who is into the investment of Bitcoin, so what I really want to comprehend concerning the price is that the increment can be something that may increase today and get decreased tomorrow so the price of bitcoin every year differs

[Mpamaegbu]

It's not just you, many people don't want bitcoin to drop back to $25k, but there are still some people who are expecting it. Those are people who haven't accumulated a lot of bitcoin because they think the market will have another big drop and bitcoin will drop to $15k. But I think they will soon be disappointed after seeing what has happened in the past few days. But you're right, we also have no guarantees that bitcoin will no longer drop below $25k.

I was pessimistic about the $40K goal by the end of the year but with everything going on, I think it's achievable.

You're right. It's crystal clear now that those who were in expectation of Bitcoin hitting $25k won't have their dreams fulfilled. If anything, the halving wind won't make that possible. We're at the last quarters of the year now, nearing halving and Bitcoin is trading around $35k and I don't see anything that will push it down that far now. It's already on the uptrend as we've seen price push out. Who knows, we might likely hit $50k before year end.

[gunhell16]

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

That's the OP's assessment, dude; it's up to you to believe it or not. He only says what he thinks are the possible things that can happen based on his reading of the chart according to the technical analysis he did there.

Since the market is unpredictable, it is possible for them to happen or not happen. Now, in my personal opinion, bitcoin will still have a drop price according to my understanding of its graph chart and will probably dump between 30k$ to 31k$ something to have more liquidation,
then proceed to 40k$ target price in my assessment.

[_BlackStar]

-snip-

You're right. It's crystal clear now that those who were in expectation of Bitcoin hitting $25k won't have their dreams fulfilled. If anything, the halving wind won't make that possible. We're at the last quarters of the year now, nearing halving and Bitcoin is trading around $35k and I don't see anything that will push it down that far now. It's already on the uptrend as we've seen price push out. Who knows, we might likely hit $50k before year end.

$50K before the end of the year seems possible - but not certain. The upward trend in prices during November to date has been quite good - but this has been driven by rumors about the approval of a bitcoin ETF. I'm not entirely sure a correction can be avoided if the SEC ultimately rejects a bitcoin ETF - so it remains a possibility and it would be advisable to consider the risks.

As of today - bitcoin is still trading between $34K to $35K. Several times bitcoin still failed to break the $36K resistance and the price returned to around $35K. If that resistance is successfully broken - then I am confident in saying that $40K and above is achievable.

[kro55]

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

That's the OP's assessment, dude; it's up to you to believe it or not. He only says what he thinks are the possible things that can happen based on his reading of the chart according to the technical analysis he did there.

Since the market is unpredictable, it is possible for them to happen or not happen. Now, in my personal opinion, bitcoin will still have a drop price according to my understanding of its graph chart and will probably dump between 30k$ to 31k$ something to have more liquidation,
then proceed to 40k$ target price in my assessment.

I also personally believe that it will be difficult for bitcoin to drop below $25k again. We will still have corrections but there may not be a chance to see another big dump.

@Latviand: you don't need to pay attention to what the OP and we say. You are investing with your own money, so do your own analysis so you don't regret it later. If you still believe that bitcoin can fall further then stick to your plan, and it's not just you, I see there are still some people who think like you. Instead of buying now, they still wait for the price to drop to accumulate bitcoin.

[Mpamaegbu]

~snipped~

$50K before the end of the year seems possible - but not certain.

Nothing has ever been certain in this industry. The industry is a place where anything is possible to happen but even at that we gauge by sentiment to read the market. The sentiment ATM is bullish as the market is already basking in the excitement of a fresh halving.

I'm not entirely sure a correction can be avoided if the SEC ultimately rejects a bitcoin ETF - so it remains a possibility and it would be advisable to consider the risks.

I'm more disposed to taking a long position on Bitcoin than a short.as it's now, no matter whatever price correction I perceive. I don't want to be trapped. Any correction now is likely more of a bear trap.

[_BlackStar]

-snip-

Nothing has ever been certain in this industry. The industry is a place where anything is possible to happen but even at that we gauge by sentiment to read the market. The sentiment ATM is bullish as the market is already basking in the excitement of a fresh halving.

Absolutely - I see the same side and tend to agree with what you say.

I'm more disposed to taking a long position on Bitcoin than a short.as it's now, no matter whatever price correction I perceive. I don't want to be trapped. Any correction now is likely more of a bear trap.

Same here - but this may be a coincidence. I have set long-term targets instead of short-term and thereby have made me ignore price volatility. Of course it has made me a little calmer even though several major corrections have had a bit of an impact on my optimism for a while. Everything is still under control and I hope the trend will continue.

[Hamphser]

~snipped~

$50K before the end of the year seems possible - but not certain.

Nothing has ever been certain in this industry. The industry is a place where anything is possible to happen but even at that we gauge by sentiment to read the market. The sentiment ATM is bullish as the market is already basking in the excitement of a fresh halving.

I'm not entirely sure a correction can be avoided if the SEC ultimately rejects a bitcoin ETF - so it remains a possibility and it would be advisable to consider the risks.

I'm more disposed to taking a long position on Bitcoin than a short.as it's now, no matter whatever price correction I perceive. I don't want to be trapped. Any correction now is likely more of a bear trap.

Expect the unexpected as always on which this market could really move totally opposite on what you have anticipated or expected on which means that you should really be that come prepared
on whatever things that you are encounter. Be sure to be wise on making up your position whether you should buy or sell then success will really be that determining on how well you do
really do these things and we know that not all would really be having the skills on doing so. The price might be playing around on 35k but doesnt mean that it wont really be going back down on 25k+.
Always assume that chances is there and this is why always save up some money for making some buybacks or DCA because you could actually be able to get that kind of chance
or opportunity once the market would really be correcting.

[mirakal]

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow.  A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

Obviously, DCA is the key. Do not worry if bitcoin price won't touch below $25k again as that does not mean that you would stop buying bitcoin immediately. If you are here to invest for long term, then regardless if the current price is high, you would still continue to buy bitcoin at your own spare money so that you will not be left behind when everyone else around is taking a lot of profits in times of bull run while you are stuck with few number of bitcoin.

Sky is the limit when you are doing DCA. Do not fear for the current price surge for bitcoin, but fear that you don't have good amount of bitcoin when bitcoin amount has already reached its maximum price limit.