Bitcoin at $80K: breakout level or another rejection zone?

[Pandu Geddon]

Those who are satisfied with a price of $100k will of course sell their Bitcoin. But I believe there are also many holders who will not sell their Bitcoin at that price. The reason is simple, people's target right now is at least to reach a new ATH. I think that won't take as long as the 4-year cycle. 
Bitcoin's price is now back below $80k, but it seems we will see an upward movement above that price again.

Yeah that's also seems like a possibility. People including myself have been waiting for bitcoin to cross $100 again for quite some time now.
I had missed the opportunity to sell at that moment and definitely regret it but not worried though because I know bitcoin will eventually cross $100k again.
But this time my target is not to sell at $100k but to cross the ATH or at least near to ATH is when I am thinking to sell so that I can buy back later.

Do you also set a time target for your investment? Or just a price target you want to achieve? Some of us might estimate the time target after the next halving or might reach the price target faster. Investment basically still considers profit. If we are satisfied with the profit, we can indeed sell it. Regarding the possibility of buying again during a future decline, it will all depend on our ability to buy at the best price.

[Bitpulse.digital]

For 180 days out, yesterday had the base at 83,300 USD and today it shifted to 81,600 USD for Mar 17 2027. My side project bitpulse recalculates those probabilities daily, though that date feels far enough to change twenty more times. Scenarios drift constantly, so nothing is locked in.

[pawanjain]

Do you also set a time target for your investment? Or just a price target you want to achieve? Some of us might estimate the time target after the next halving or might reach the price target faster. Investment basically still considers profit. If we are satisfied with the profit, we can indeed sell it. Regarding the possibility of buying again during a future decline, it will all depend on our ability to buy at the best price.

That's a good question. I don't really have a set time for my target because I can keep holding on to my coins for a really long time.
Having a time constraint, impacts our decisions to buy and sell and so I prefer just having a target price and so whenever a price is met I execute my trades.

[Comeacross]

Yeah that's also seems like a possibility. People including myself have been waiting for bitcoin to cross $100 again for quite some time now.
I had missed the opportunity to sell at that moment and definitely regret it but not worried though because I know bitcoin will eventually cross $100k again.
But this time my target is not to sell at $100k but to cross the ATH or at least near to ATH is when I am thinking to sell so that I can buy back later.

If I may ask, what was your initial plan prior to $100k last year? Did you really had initial plan to sell when it reach that price? Or you just decide suddenly to sell after it reach there? I'm asking this because I think majority of us don't have a specific price target to sell and that's why we regret when it reaches some peak but we failed to sell and the price drop down. Without prior plan to sell at a specific price, it's difficult to sell because you'd think it'll go higher.

[Dizciple]

That's a good question. I don't really have a set time for my target because I can keep holding on to my coins for a really long time.
Having a time constraint, impacts our decisions to buy and sell and so I prefer just having a target price and so whenever a price is met I execute my trades.

I have just learnt something new right now from what you said, this strategy that you're using is a good one and it can help us not to be desperate under pressure to sell or expecting too much from the market. It also teaches us patiences to wait for the market to give us our target then we sell. It doesn't matter how long it takes the market to reach that price, you'll still have to wai. The market is now at $76K which  means we aren't breaking out as it should cross that price if we were. But this shoduntt stop us from waiting as we didn't expect the market to just give us our target like that. Any price your target is will happen in the future therefore the current market rejections isn't the final reaction that the market is going to get to crossing $80k , the price of Bitcoin might cross the price again when the market retest breaking the resistances at that price again and when it happens we will see the price finally trade higher than $80k.

[pooya87]

Or maybe just another accumulation range during which price plays jump-rope with the price $80k multiple times before it resumes rising back up again, similar to what happened over the past 11 days after price played jump rope with $60k-ish price.

It's good to check out what you were saying in the past to see how right/wrong you were. I think what I said here nearly a month ago was good speculation. The previous range for accumulation was between $55k and $65k and this new range seems to be between $75k and $82k. It is already becoming as long as previous one too.

Now we have to see whether it breaks out similar to the previous one or this time it reverses.

[arwin100]

Or maybe just another accumulation range during which price plays jump-rope with the price $80k multiple times before it resumes rising back up again, similar to what happened over the past 11 days after price played jump rope with $60k-ish price.

It's good to check out what you were saying in the past to see how right/wrong you were. I think what I said here nearly a month ago was good speculation. The previous range for accumulation was between $55k and $65k and this new range seems to be between $75k and $82k. It is already becoming as long as previous one too.

Now we have to see whether it breaks out similar to the previous one or this time it reverses.

I think you made a wrong quote here, maybe you want to answer on someone else opinion?

But anyways, you are actually correct. Since if we look closely on the situation happening now. That $75k to $82k stable price range reached by Bitcoin now, is seems like same situation on which Bitcoin stays at $55k - $65k before.

It seems at current price Bitcoin will starts to build a momentum and there's possible more pump will came. But let see if this is going to happen, but if it happen its slips more lower down on current figure. Maybe this signals that people need to have long patience and continue with their accumulation.

[katanic97]

Or maybe just another accumulation range during which price plays jump-rope with the price $80k multiple times before it resumes rising back up again, similar to what happened over the past 11 days after price played jump rope with $60k-ish price.

It's good to check out what you were saying in the past to see how right/wrong you were. I think what I said here nearly a month ago was good speculation. The previous range for accumulation was between $55k and $65k and this new range seems to be between $75k and $82k. It is already becoming as long as previous one too.

Now we have to see whether it breaks out similar to the previous one or this time it reverses.

I think you made a wrong quote here, maybe you want to answer on someone else opinion?

But anyways, you are actually correct. Since if we look closely on the situation happening now. That $75k to $82k stable price range reached by Bitcoin now, is seems like same situation on which Bitcoin stays at $55k - $65k before.

It seems at current price Bitcoin will starts to build a momentum and there's possible more pump will came. But let see if this is going to happen, but if it happen its slips more lower down on current figure. Maybe this signals that people need to have long patience and continue with their accumulation.

He wasn't wrong, he quoted his own post from earlier to compare whether he was right or not.

I don't know how much momentum it will gain to start a new rise. I think it will stay within a $2-3k range up or down, and we'll see another smaller drop. Either way, we should be patient

[pawanjain]

Yeah that's also seems like a possibility. People including myself have been waiting for bitcoin to cross $100 again for quite some time now.
I had missed the opportunity to sell at that moment and definitely regret it but not worried though because I know bitcoin will eventually cross $100k again.
But this time my target is not to sell at $100k but to cross the ATH or at least near to ATH is when I am thinking to sell so that I can buy back later.

If I may ask, what was your initial plan prior to $100k last year? Did you really had initial plan to sell when it reach that price? Or you just decide suddenly to sell after it reach there? I'm asking this because I think majority of us don't have a specific price target to sell and that's why we regret when it reaches some peak but we failed to sell and the price drop down. Without prior plan to sell at a specific price, it's difficult to sell because you'd think it'll go higher.

My target was to wait for a new ATH price and when bitcoin crossed the previous ATH of $69k it went straight up to $121k.
Then bitcoin dropped back to $108k and so I thought it will bounce back and create a new ATH around $150k.
I thought of selling at $140k but unfortunately the price never went back up to ATH and so here we are.

[pooya87]

I think you made a wrong quote here, maybe you want to answer on someone else opinion?

No. I did want to quote my own older post to update it. Price went above $80k ever since my update which confirms the "jump-rope" theory I had earlier for the accumulation phase.

[EarnOnVictor]

Do you consider $80K the main level now, or is $82K-$83K the real confirmation zone? And what would count as a proper breakout for you: a daily close, a weekly close, or simply several days holding above it?

Those levels are significant for Bitcoin now, and judging by the time you created this thread, Bitcoin only tried to break above $81,000 in August but failed. It tried again multiple times in September to break the level, and it advanced higher towards $82,000 area, but crashed eventually, which makes those levels strong enough to be referenced.

Today, a serious improvement has been made after the very annoying ranging of yesterday. Bitcoin has again tested $81,000 area; let's see how far it can go this time. If knocked lower again, then it would mean that buyers and sellers are playing supremacy game, and this might linger for a while in a ranging mode.

[osasshem]

By human psychology, I think a lot of people will sell at $100k this time around because the regret of not selling at $100k to buy back at retracement is still eating a lot of people up. My guess is that there will still arise a serious rejection as a result of dumping if price eventually reaches $100k this time, this pattern will repeat until people are convinced that $100k is not the final destination for Bitcoin. Although some people will still hold irrespective of what happens, they have been holding and they will not change.

Those who are satisfied with a price of $100k will of course sell their Bitcoin. But I believe there are also many holders who will not sell their Bitcoin at that price. The reason is simple, people's target right now is at least to reach a new ATH. I think that won't take as long as the 4-year cycle. 
Bitcoin's price is now back below $80k, but it seems we will see an upward movement above that price again.

I am among those who will possibly make some sell off when the price crosses or reach the $100k price mark. This is to take out some profits from my accumulation since the bear market started. It is true that the price of Bitcoin will reach new highs in a more shorter period, but as a mark I have set up for a long time since the bear market started, that's why I'll be selling to acquire some other coins as a form of diversification.

[Jegileman]

I'm not convinced that a wick above $81K proves much. A daily or weekly close above the area, followed by a retest that holds, would tell me far more. If BTC keeps getting pushed back below $80K, I'd be watching whether the recent breakout starts unwinding toward the mid-$70Ks.

Do you consider $80K the main level now, or is $82K-$83K the real confirmation zone? And what would count as a proper breakout for you: a daily close, a weekly close, or simply several days holding above it?

The price today has moved up above $80K, which signifies a bullish trend back in the market. I was not expecting a break above $80L any moment from now but the marketing going to still consolidate more and face some downturn after a bullish sentiment pushing above $80K recently.

The market is looking not so optimistic for a bearish move, but decided to rely more on the bullish side. We are already headed to end of the month, we have to see by then what the price will be saying to have some more conclusions on what the market is actually doing and getting at currently.

[Oshio-man]

I don't think $80k or $82k will going to be the highest price before the end of this year, if you watch the green light candle since the price touch $80k few hours ago, you will know that there are still opportunity for the price of bitcoin to reach $100k before December ending because the bearish season is still look like what is far from the market before the end of this year, Base on what I have observed so far in the current display of bitcoin price, I think there will still be bullish season before the end of this year that will move long term holders and short term holders to make income that will make them celebrate this year as they want.