Btc dump to 39600

[bestcoins1]

Btc broke 42200 support
Now the target is 39600

Why do you say that is the target? I would like to know a clearer reason for this because the target of many people now is to see a new ATH in Bitcoin after the halving and now the price support above $40K is a very good thing for this year and is very desired by many people. But if you still want to buy Bitcoin below $40K, don't say that is the next target for Bitcoin because the potential price increase will be more visible after a price correction in a trend like now.

[Faisal2202]

Btc broke 42200 support
Now the target is 39600

Well, it did not went near 39600 but did reached  40,542$ and it is below from its 2nd last support level of around 41,250$ which I have made on my chart. Well, if it tests it again and try to go below then i think it will hit your target.

It might be for short term period but these 20 days are really risky and short term traders have to be extra careful who are mostly day traders because we might see high volatility in the market till 9th January of 2024 and market will go up if ETF will be accepted on 10th January.

[tabas]

Is that your target for you to buy? With the small corrections that come, you can notice that there's not that much drop at all and this is a good sign. You see those reds but in actuality, we don't see a huge less from the price of Bitcoin. These dumps aren't huge dumps to say.
So, if you're planning to buy when there's a little push back then take that chance and moment to buy before it finally skyrockets again and it's only a matter of time that we won't see these lows again. This is the great thing on these cycles, people are excited for the ATHs but also you have to consider the newer and higher lows.

[michellee]

If the price of Bitcoin falls to $39,600, investors will favor it. They will compete to buy more Bitcoin at that price. They know that if the price could fall further than it is now, it would be a good time to buy Bitcoin and hold it. They probably won't see another low once it rises $45k higher.

So now they are still trying to buy Bitcoin and waiting for the best moment to buy more. Meanwhile, if people panic about the downturn and sell their Bitcoin, they will regret it because it might be too late to buy it again. If you don't want to be late, you can buy Bitcoin again and prepare the money.

Don't be influenced by what people out there say. It's better to analyze Bitcoin price movements to know when to buy Bitcoin again. And don't panic if the price drops further, but think about looking for a good moment to repurchase Bitcoin.

[Wiwo]

Btc broke 42200 support
Now the target is 39600

Some time I wish if the price drop will affect the transaction network because currently the Bitcoin network fee is crazily high and we all are expecting the immediate solutions to that problem and if price correction will solve the problem then it would be good to look out for that possibilities,  since the increase in the transaction fees started immediately the price of Bitcoin starts to rise some time ago.

And even history has it that the Bitcoin network always gets congested as soon as the market starts skyrocketing,  so let's look out for that possibility.

But also back to the Bitcoin price speculations,  it is easier to see such a significant price drop when we are expecting an uptrend direction that could possibly trigger up a bull run in the Bitcoin market, many times, how the price is raised is the same as how it correction will go,  today I saw that Bitcoin dropped in price to 2.8% or 3% during the last 48 hours a  same pattern when the price start raisin some time ago,  we start seeing 3% increase and so on,  so let not be surprised at the current realities with the price.

[STT]

Looking purely at the near term 39k does appear fair but larger time frames will always take priority with greater resistance and volume to those historic patterns.   For the last week almost the BTC price has been trading below a weekly average which does reflect a weaker trend lower.   Nothing too negative as some profit taking is fair and normal at this point.
  I have more concerns when BTC price does not halt at all and rushes ahead, its surely due a trip at that point.   The ideal is to build a slow and steady solid ascent not a rocket which will run out of fuel.

[alankasman]

Btc broke 42200 support
Now the target is 39600

The difference between day traders and people who hold for the long term. Long-term holders have little influence on the price that occurs. If, for example, the price decreases again, this will result in the number of Bitcoins being slightly larger, which is done using the DCA method.
Day traders may feel affected by price fluctuations but still high transaction costs will also have an impact on them.
That's why it's not fun to trade daily.

[ShowOff]

It is the time to purchase more BTC if you have extra money to spare or any amount that you want to invest in cryptocurrency. It's more than enough to say that you can get it at a discount for that amount. You would never know how much you can earn but it's still best that you do something about it.

Of course, this is a more sensible option than spreading fear of falling prices. Some people think a correction is a bad thing for bitcoin, but when they have a different mindset for the long term, then they should do DCA and buy on DIP.

Currently bitcoin price is testing the $42k resistance level on the 4-hour TF, so I am not too concerned that it will likely maintain its value above $41k until today's market close. I tend to expect people to remain optimistic about market movements and avoid panicking for any reason, this is the best way to keep psychology in check in the long term.

[goaldigger]

Btc broke 42200 support
Now the target is 39600

What an opportunity to buy again, and there’s no reason to panic because this correction is normal.
Though some may feel bad because of buying at the peak price but that is ok because the market will rise again, what you can do to lower your cost is do DCA and make sure you are dealing with the best coin for this. If you are having a hard time looking for the good coin then you can go with Bitcoin, and wait for the peak price again.

[Dave1]

Btc broke 42200 support
Now the target is 39600

What an opportunity to buy again, and there’s no reason to panic because this correction is normal.
Though some may feel bad because of buying at the peak price but that is ok because the market will rise again, what you can do to lower your cost is do DCA and make sure you are dealing with the best coin for this. If you are having a hard time looking for the good coin then you can go with Bitcoin, and wait for the peak price again.

But did we really broke $42k and goes down hard to $39k? Current price is still way above $42k so I guess the OP talk to soon as there's no correction whatsoever although the price might go down on a sideways pattern and then blow up to $45k at the end of the year.

Of course, DCA is our friend, regardless if the price will decline, we will have to used this strategy to accumulate more BTC and hold and then wait for the next all time high. So for now, let's continue to do that or at least up to where we reach the block halving.

[$crypto$]

There has not been a bitcoin to that price and it is still staying in the $42K range area, I see it going sideways for a long time because it might follow in the footsteps of the previous month even though this is not certain I don't need to worry if there is a decline then it's time to buy as much as possible.

If for example to the target of $40K I will still buy it will not wait for the price below it can be said that this is a good opportunity to immediately accumulate bitcoin during corrections, until now the correction has not broken below $40K, maybe in the future it will tend to go up to $45K.

[JoyMarsha]

I just hope people don't start fud on this forcing investors to panic sell.

That's what we hope for but already some investors are spreading fud about the recent fall of bitcoin price, like they never expected it, that bitcoin price will someday its price will decline in a twinkle of an eye from the high price it was few days back.

Without a doubt, I believe we are going to see some panic sellers as the Bitcoin price falls below $39k-$35k before the halving. It does happen that before the halving happens, there will be shakes of hands for people who hodl bitcoin to sell, while many would love to accumulate more bitcoin

Funny enough some investors invested in bitcoin with the hope that it will continue to rise and give them profits based on what they heard about the upcoming bull run. Forgetting that bull run doesn't happen without bitcoin having a price correlation first(it can be this year or next year)

[Falconer]

-snip-

Why do you say that is the target? I would like to know a clearer reason for this because the target of many people now is to see a new ATH in Bitcoin after the halving and now the price support above $40K is a very good thing for this year and is very desired by many people. But if you still want to buy Bitcoin below $40K, don't say that is the next target for Bitcoin because the potential price increase will be more visible after a price correction in a trend like now.

Price corrections are normal, but it's good that bitcoin price failed to test its bottom support again today. Bitcoin price has moved against resistance where $42k has been broken currently. I think people make decisions too easily during a correction, so now the correction target has failed.

As I write this, the price is hovering around $42,600, so perhaps we'll get the $43k break in the near future as well. Of course, this is very possible because negative sentiment in the market is not greater than positive sentiment. Let's look forward to what will happen next.

[_BlackStar]

There has not been a bitcoin to that price and it is still staying in the $42K range area, I see it going sideways for a long time because it might follow in the footsteps of the previous month even though this is not certain I don't need to worry if there is a decline then it's time to buy as much as possible.

If for example to the target of $40K I will still buy it will not wait for the price below it can be said that this is a good opportunity to immediately accumulate bitcoin during corrections, until now the correction has not broken below $40K, maybe in the future it will tend to go up to $45K.

Of course – there is no reason to ignore the opportunities that arise due to panicked traders in the market other than by accumulating. Today the price of bitcoin briefly corrected to $40,500 - but we have seen it return to $42K on the same day. What can be said; weak hands have released their grip to gain huge profits in the long term. Keep calm - collect as long as you have a budget, better days for bitcoin will come and you will repay that patience with worth it returns.

[Yatsan]

Does the CME Gap already filled aroun that price range? As we all know, those gaps are where sudden pull backs occur. The market price of Bitcoin will never be too consistent and continuous whenever it is increasing or decreasing. There will always be inconsistencies on smaller time frames but with a clear direction on bigger ones. I say there is still a chance for its price to fall 30 or under but with the slightest chance of taking place right now given that there is still a huge buying pressing.

[lienfaye]

Btc broke 42200 support
Now the target is 39600

Is this something to be worried about? If your strategy to accumulate is through DCAing, I don't think the price matter. Anyway, the value bounce back now at over $43k hence before this year end, it's possible that we can see another price increase. So before it happened, take this opportunity to fill your bags.

There are many predictions that the price might surpass its ATH in the coming months (possible after halving). Thus, don't miss the chance and be prepared regardless of your strategy to hold either for short or long period.

[bitterguy28]

Btc broke 42200 support
Now the target is 39600

are you affected mate? if not then let it go because just after you posted this the price of Bitcoin grows back to 43 k and yes still going up now so you dont have to bother yourself spreading this FUD and yes it did not cover your post that bitcoin will hit that target of 39,600 as it is bullying again now.
anyway thanks for the sight but you failed .

[Free Market Capitalist]

are you affected mate? if not then let it go because just after you posted this the price of Bitcoin grows back to 43 k and yes still going up now so you dont have to bother yourself spreading this FUD and yes it did not cover your post that bitcoin will hit that target of 39,600 as it is bullying again now.
anyway thanks for the sight but you failed .

It looks like the OP doesn't have much money, and he better not invest the little he has because if he cares about a small dip in a clear uptrend he is a clear candidate to buy at highs for FOMO and sell at the slightest dip for FUD. You have to understand something called volatility, which in assets such as Bitcoin is higher than in other more traditional ones, and learn to recognize the trend within that volatility. 

[philipma1957]

Btc broke 42200 support
Now the target is 39600

good luck with that.


looks to me that we hit 48k by years end.

[adaseb]

Yeah I was watching the market yesterday and it looked like we would break the $40K support and head down there as many stops get hit. However it actually reversed.

Today we had lots of positive news with the etfs and we rallied all the way to $43.5k. So completely unexpected turn off events. Would of assume we would touch $40K and reverse but looks like it was front run.