Will BTC go back to $40K - $30K range before a bigger rally?

[Franctoshi]

There is this hidden reversal pattern that Bitcoin is forming on the daily time frame, And when this is formed in the major area of resistance, it 70% of the time causes a reversal in the price of an asset, and if this plays out, this will see Bitcoin go retest $64k, a support zone of the wedge pattern that saw the price out yesterday and failure to hold that support, we will see a continuous melting down of the price of Bitcoin down to $60k-$58k, Where I see a major area of support for buyers to step in and to try to push the price back up; however, we don't know what pre-halving and post-Halving entails.

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[Yaunfitda]

There is this hidden reversal pattern that Bitcoin is forming on the daily time frame, And when this is formed in the major area of resistance, it 70% of the time causes a reversal in the price of an asset, and if this plays out, this will see Bitcoin go retest $64k, a support zone of the wedge pattern that saw the price out yesterday and failure to hold that support, we will see a continuous melting down of the price of Bitcoin down to $60k-$58k, Where I see a major area of support for buyers to step in and to try to push the price back up; however, we don't know what pre-halving and post-Halving entails.

On the contrary, I haven't seen any reversal, the price is going up again and hitting around $70k as we speak. So there is still this buying pattern, and as we close the block halving, it's very easy to say that there is panic buying that is going to happen before the actual halving date. Let's see how it goes, we should be excited that we will be in another bull run or block halving. And for those who are in their first time to see this happen, I would recommend to stay late and observe what is going to happen in this activity. So for now let's just look at the fundamentals and not make it overcomplicated for some of us with technicals, just saying.

[fuguebtc]

There is this hidden reversal pattern that Bitcoin is forming on the daily time frame, And when this is formed in the major area of resistance, it 70% of the time causes a reversal in the price of an asset, and if this plays out, this will see Bitcoin go retest $64k, a support zone of the wedge pattern that saw the price out yesterday and failure to hold that support, we will see a continuous melting down of the price of Bitcoin down to $60k-$58k, Where I see a major area of support for buyers to step in and to try to push the price back up; however, we don't know what pre-halving and post-Halving entails.

What are your predictions based on? Can you provide a chart and indicator where you think we have a hidden reversal pattern and the possibility of bitcoin dropping to the $60k area?

Personally, I'm not good at technical analysis but I see things as supporting a short-term uptrend and the odds of us hitting a new ATH are higher than the odds of us falling back to support like you said.

Regarding bitcoin correcting after halving, I will support you because nothing goes up forever. But I believe that Bitcoin will continue to make new ATHs and will only correct after the halving, and it will also be a significant correction in preparation for entering the biggest growth wave of this cycle.

[jaberwock]

As said before, Bitcoins won’t fall below 50k usd. The reason is pretty simple. When the price will go down a bit, all the traders will buy it back and then it will increase the demand to accumulate the coins. Moreover we know that Bitcoins follow the policy of supply and demand and we also know that they are limited in numbers. Hence, when the demand increases, the price will go up, and 40k range is hard to achieved then.

To be honest, no one exactly holds what will be the future price of bitcoin. For me, it’s still possible for bitcoin to fall below $50k if the current price consistently drops. Regardless the fact that bitcoin halving gets nearer, no one can stop bitcoin from dropping drastically if that’s how the current trend is. Probably, bitcoin might follow a new route within this year’s bitcoin halving journey, and history might not repeat itself anymore. So let’s wait and see. If bitcoin price never goes up again until halving, most likely its target price will only stop at $65k above or might drop more if the price correction never stops.

That's a general understanding anyone who knows the market would have. There is no doubt that the future is unpredictable, but based on what we see or have seen in the past, we can speculate, and based on what we have seen during past halving events, the price usually doesn't go down after it but there are always chances for that to happen before the halving because we have witnessed that before where the price used to drop significantly before the halving and then recovered after it.

Since we have seen irregular price movements this time around, things might be different but the possibility of the history repeating itself is higher. Regardless, we should be mentally and strategically prepared for what might happen after the halving event.

[vs2014]

I don't think you'll see bitcoin hit $40k or $30k anytime soon, but you'll see some more dumping. We know bitcoin always corrects the price after a massive pump but this time it took a different form. Moreover many altcoins are now trying to pump the price of bitcoin using the opportunity to increase. But this time will be best for those who want to invest short time. So if you plan long time holding then you should wait for some more time.

[Distinctin]

As said before, Bitcoins won’t fall below 50k usd. The reason is pretty simple. When the price will go down a bit, all the traders will buy it back and then it will increase the demand to accumulate the coins. Moreover we know that Bitcoins follow the policy of supply and demand and we also know that they are limited in numbers. Hence, when the demand increases, the price will go up, and 40k range is hard to achieved then.

With the current price correction, I guess I’m now more convinced that bitcoin might totally touch $50k again but certainly not lower than that. And I think that won’t be a problem since we all know it will eventually recover again right after a price drop. But for those who’ll be able to take advantage with the current price drop, I believe they will gain higher potentials for profits when bitcoin price starts to surge high and skyrocket again.

[QueenSk]

I don't think you'll see bitcoin hit $40k or $30k anytime soon, but you'll see some more dumping. We know bitcoin always corrects the price after a massive pump but this time it took a different form. Moreover many altcoins are now trying to pump the price of bitcoin using the opportunity to increase. But this time will be best for those who want to invest short time. So if you plan long time holding then you should wait for some more time.

You were right that Bitcoin will correct further. Given the current state of the market, I still think Bitcoin can go lower than this point. A lot of altcoins which are very high went up as Bitcoin went up. Bitcoin hasn't gone down that much yet but with a little correction the altcoins have gone down a lot.

What do you think? Is this a good time to invest or should we wait more considering the market conditions?

[EarnOnVictor]

Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.

We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.

So can we expect a major correction or it's going to go up again and reach $80K before halving?

Judging by the time you made this post, you had a very good concern that later happened, though not entirely as expected. Bitcoin moved so well to hit below $60,000 but I am not sure if it will ever reach $30k-$40k anymore, at least for now. Well, this behaviour is not what any right-thinking person would not have expected and I've iterated on it many times on the forum that Bitcoin might behave in a way that will surprise people. The coin is in the bearish trend in a short-term scope and might remain there unless it has the power to rebound strongly to breach the current ATH at $73,850. The issue Bitcoin is facing is that it moved higher before its real-time, so people are now cautious because it has already moved too high and has created a new ATH, a level from which it starts falling in March.

I doubt if there are people still willing to commit their huge money to Bitcoin at this level, but time will tell on this. However, on the selling side, it can't be worse for it to breach $45,000 in my opinion, though the bearish impact is still being felt. Nevertheless, I can see some sideways movement on the larger scope, and one may want to make their money with this pattern. Lastly, a bullish candlestick is spotted today even as the 4-hour chart is positive with its price action. These might make it move higher for a while, particularly this time that the market continues to find comfort above the 1D Fibo level of 38.2% at $60,340.

[QueenSk]

Judging by the time you made this post, you had a very good concern that later happened, though not entirely as expected. Bitcoin moved so well to hit below $60,000 but I am not sure if it will ever reach $30k-$40k anymore, at least for now. Well, this behaviour is not what any right-thinking person would not have expected and I've iterated on it many times on the forum that Bitcoin might behave in a way that will surprise people. The coin is in the bearish trend in a short-term scope and might remain there unless it has the power to rebound strongly to breach the current ATH at $73,850. The issue Bitcoin is facing is that it moved higher before its real-time, so people are now cautious because it has already moved too high and has created a new ATH, a level from which it starts falling in March.

I doubt if there are people still willing to commit their huge money to Bitcoin at this level, but time will tell on this. However, on the selling side, it can't be worse for it to breach $45,000 in my opinion, though the bearish impact is still being felt. Nevertheless, I can see some sideways movement on the larger scope, and one may want to make their money with this pattern. Lastly, a bullish candlestick is spotted today even as the 4-hour chart is positive with its price action. These might make it move higher for a while, particularly this time that the market continues to find comfort above the 1D Fibo level of 38.2% at $60,340.

I don't think anyone can say for sure whether Bitcoin will go down or not, everyone including me can only speculate.
When I posted this I thought that Bitcoin might go down because the halving still had to happen and Bitcoin had already gone up so much before the halving so I felt like Bitcoin from here on out would do a little correction then I posted this to get everyone's opinion at that time almost everyone was commenting to me that it is not possible.

I said then that this is the crypto market, anything is possible here, we should prepare ourselves for every situation and invest accordingly. Every time it gives us new surprises, we may see more surprising situations, so we should keep our minds ready for it all.

[AnonBitCoiner]

I don't think you'll see bitcoin hit $40k or $30k anytime soon, but you'll see some more dumping. We know bitcoin always corrects the price after a massive pump but this time it took a different form. Moreover many altcoins are now trying to pump the price of bitcoin using the opportunity to increase. But this time will be best for those who want to invest short time. So if you plan long time holding then you should wait for some more time.

Nobody can tell you the exact value that what will be it and how lower it will go but as halving has taken place so there are hopes for good gain and price will not be reduced as much as 40k$ but it is not guaranteed as the market can change anytime.

The market is not showing greater effects and greater changes because Bitcoin is still 63k$ and does not show a huge pump or huge dump after halving. We will follow the market price and will accumulate more during the lower price and will sell when the price goes higher but it will be easy if you make a target for taking the forward step.

[Kelward]

We saw a new ATH before halving, then price began to dip, and the OP created this thread asking about price speculations before the halving, whether, it'll dip between $30k to $40k, anyways halving has happened and price is still hovering around $60k to $65k, it's approximately $63k now. I think that within this range that price is now will be it's correction before it'll starts to be bullish, because it has been around this range for quite a long time without any further significantly dip. But this is the crypto space, anything can happen and we can see a significant dump or pump on the short term.

[Republikcoin.com]

You were right that Bitcoin will correct further. Given the current state of the market, I still think Bitcoin can go lower than this point. A lot of altcoins which are very high went up as Bitcoin went up. Bitcoin hasn't gone down that much yet but with a little correction the altcoins have gone down a lot.

Bitcoin can indeed have more of an effect on increasing altcoins in the market and this has happened very often when Bitcoin has experienced an increase in price in the market. I wasn't that surprised when I saw altcoins that had experienced more price declines in the market when Bitcoin started to be corrected in quite a small amount because I always differentiate between Bitcoin price movements and altcoin price movements in the market even though the increases often occurred simultaneously.

What do you think? Is this a good time to invest or should we wait more considering the market conditions?

If you want to invest in Bitcoin and not invest in altcoins, it's a good idea for you to do it now without having to wait any longer to do that. But you also have to determine the time because Bitcoin is always more suitable for long-term investments, not for short-term investments like those made by people who buy altcoins. However, if you only want to trade with altcoins in the market for short-term profit targets, it wouldn't be wrong for you to wait for the next price drop even though I myself don't know when the next price drop will happen again for altcoins.

[Gaza13]

I don't think you'll see bitcoin hit $40k or $30k anytime soon, but you'll see some more dumping. We know bitcoin always corrects the price after a massive pump but this time it took a different form. Moreover many altcoins are now trying to pump the price of bitcoin using the opportunity to increase. But this time will be best for those who want to invest short time. So if you plan long time holding then you should wait for some more time.

It's true what you say, it's unlikely we'll see that price. Especially after the halving phase has arrived, if you believe in this asset, don't think too much about the price now, look to the future. Maybe the step we should take is to continue accumulating gradually even if there is a slight correction or the price decline is not too significant. It's true what you say, the current moment is still good enough to accumulate. There is no quick investment to get the desired profit, you have to be a little patient to see that the increase will definitely occur in the future.

[Marvell1]

I don't think you'll see bitcoin hit $40k or $30k anytime soon, but you'll see some more dumping. We know bitcoin always corrects the price after a massive pump but this time it took a different form. Moreover many altcoins are now trying to pump the price of bitcoin using the opportunity to increase. But this time will be best for those who want to invest short time. So if you plan long time holding then you should wait for some more time.

You were right that Bitcoin will correct further. Given the current state of the market, I still think Bitcoin can go lower than this point. A lot of altcoins which are very high went up as Bitcoin went up. Bitcoin hasn't gone down that much yet but with a little correction the altcoins have gone down a lot.

What do you think? Is this a good time to invest or should we wait more considering the market conditions?

From what you said, I guess you haven't bought any bitcoin since March and are still waiting for bitcoin to drop more. But I want to ask you, will you definitely buy if bitcoin drops to $40k in the near future? Or will you continue to think that bitcoin will fall even more when bitcoin drops to $40k and will you only buy if bitcoin drops to $20k? This is not new to those who like to bargain with the market and those who always say they wait for bitcoin to correct before buying, most of those people will never buy bitcoin. They will never buy bitcoin when it corrects, but when bitcoin bounces and goes higher, they will definitely rush in to buy at high prices without thinking.

[JeffBrad12]

We saw a new ATH before halving, then price began to dip, and the OP created this thread asking about price speculations before the halving, whether, it'll dip between $30k to $40k, anyways halving has happened and price is still hovering around $60k to $65k, it's approximately $63k now. I think that within this range that price is now will be it's correction before it'll starts to be bullish, because it has been around this range for quite a long time without any further significantly dip. But this is the crypto space, anything can happen and we can see a significant dump or pump on the short term.

i'm have quite differing opinion with this the price of bitcoin at around $60k is already at the bottom for this bullrun, because we already retesting all the support zone around $60k and its still going strong with the current price despite just moving around this price point but we are probably already in accumulation zone, the next bullrun might not even need a slight correction to occur before continuing the bullrun all the way to the top $100k.
just see in probablly a month the price will be retesting the $70k resistance and noce we breakthrough then we gonna see biggest bullish ever according to the previous past historical data of bitcoin it usually whats gonna be happening.
for those that are in doubt whether the price of bitcoin gonna be dumping right now probably need to look at the chart again and see that we are just on our way on the biggest bullrun ever.

[doomloop]

I don't think you'll see bitcoin hit $40k or $30k anytime soon, but you'll see some more dumping. We know bitcoin always corrects the price after a massive pump but this time it took a different form. Moreover many altcoins are now trying to pump the price of bitcoin using the opportunity to increase. But this time will be best for those who want to invest short time. So if you plan long time holding then you should wait for some more time.

You were right that Bitcoin will correct further. Given the current state of the market, I still think Bitcoin can go lower than this point. A lot of altcoins which are very high went up as Bitcoin went up. Bitcoin hasn't gone down that much yet but with a little correction the altcoins have gone down a lot.

What do you think? Is this a good time to invest or should we wait more considering the market conditions?

It can be said that this is a good time for investment because the market is in a stable condition at the moment. This is a good opportunity to accumulate Bitcoin and other trusted altcoins before the halving effects start to show on the market, but it cannot be ignored that nobody's prediction can be 100 percent correct in the cryptocurrency market.

Therefore, the best thing is that every investor buys according to his investment and for how long he can store and wait, only an investor can know, taking advice from others is a good thing, but investment should be done according to your savings and personal mindset so that they can take complete responsibility of their decisions later on.

[Asuspawer09]

Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.

We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.

So can we expect a major correction or it's going to go up again and reach $80K before halving?

Let's discuss.

Regards
SK

Probably I was expecting at that range if the resistance break because the market price just skyrocketed in the past month and there was only few corrections that actually happened so there might be an even better deep in the coming year, we just don't know but I think it is possible even deep unto 20k$- 30k$, but probably might hold up on 40k$ since we did get a lot of money into Bitcoin when the Bitcoin ETF launches, it really trigger the market so probably it is going to hold up until the Bullrun but surely it wasn't a guaranteed thing. I mean if we are going to followed the Bitcoin Halving timeline it would still need a year before the Bullrun appear, waiting for the Bitcoin halving to take effect, so in that year a lot of things that could happened even things that we never actually experience before, probably Bitcoin could start to skyrocket early or actually drop to a very low market price, there were just too many factors that is affecting the market price so what we just need to do is hold our investment until Bullrun. As long as you have multiple sources of your income there might be no problem holding since that is what I'm doing, I have a full time job and side hustle so far, I accumulated Bitcoin and still holding it, huge percentage for sure was bitcoin.

[Aanuoluwatofunmi]

I doubt if we can have anything down the trend of the likes of $40,000 or below at this post halving experience with crypto markets, we should be moving towards achieving new all time high aside the previous one marked already, maybe this may could offer us something more different from what we have already been having, this is also a continuation of the bullrun in which we await to see more of new all time highs anytime from now.

[leonair]

I don't think so Bitcoin will go back 40k to 30k I will say that Bitcoin will remain is market upto 50k to 70k in this after period of Bitcoin Halving nor we going to see the price is going to ove 80k neither we are going to see the Bitcoin price down to 30k to 40k price. Currently Bitcoin is making is market correction I think there is a no chance in this year go above 80k.

[Lanatsa]

Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.

We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.

So can we expect a major correction or it's going to go up again and reach $80K before halving?

Let's discuss.

Regards
SK

No one really knows and this is something that all of us would really be having that question in mind on which we cant really be able to determine on where prices would be ended or looks like on the next couple of days,weeks,months or years on which we know that this market is really that highly unpredictable and this is why tons of people keeps on throwing out their number speculations on which we cant blame them of with. Now that we are seeing that Bitcoins price is starting to recover then we can definitely be able to say that the current price dip or correction could really be the bottom but of course we arent that still
that too far off with the halving event on which there's still soo much time for things to happen on which we cant really be able to predict it.

On the time that you do see those price pullbacks or corrections, then instead on freaking out then it would be better that you should really be to encounter such condition then
taking up some advantage via DCA as we do all know and aware.