Topic: $35,000-$37,000 for Bitcoin in 2023 as my peaking barrier, is breakout feasible? (Read 658 times)

Thanks to everyone who contributed to this topic since April when it was created, it's an instinctive speculation and I'm glad that it served its time while it lasted. Bitcoin was almost $30,000 at that time when people thought it would just be buying and buying, but my instinct proved otherwise which was what led to the creation of the thread.

But now, Bitcoin has defeated the range-bound of $35,000-$37,000 today, and although not still closing above it yet (no successful breakout yet), but the deed is already done. Thanks to the ETF saga that has taken the whole turn of events lately. I will be locking the topic in the next 13 hours.

Thanks once again!

I do agree that it won't happen this year, but even if it were to happen I would guess that maybe a late December run could be the only way. I still think that it would probably not be the case and we will probably not see anything major changing for now.

I believe that the best thing to do would be just letting the price be as it is right now and then if we can do better the new can do better, but we need to let this year go like this first. After this year, I believe 2024 will see some small increases by the end and 2025 will have a new and higher ATH without a doubt, that is what I believe in. I know that it's hard to wait for that to happen but it's the reality and we just need to come to accept it how it is so far.

Oh yes, we unfortunately have another world event that might have direct or indirectly affect the market, we are already in the bear market, but this kind of events will shake our ecosystem again as we al know that everything is tied, financials, the world market, events.

But yeah, all hope is not lost. We just have to endure and face it directly and just hope for the best.

And when everything settles down at least for this year. We might see some light at the start of 2024 as we will having the bitcoin halving. And just like the pandemic in 2020 where it's also the halving year. Bitcoin wasn't deter at all and on the contrary it proves as a hedge for this kind of events.

Yes, it's really very unlikely to hit $40k at this point or at least short term for this year. I don't know, maybe there is demand but the buyers are afraid to get it and doesn't want to take advantage of the cheap price that we have right now, really doesn't make sense. And obviously though, for those who are wise enough, they know that it is the best time to buy so most likely there are buyers but they have been out numbered by short sellers in the market.

Halving is just around the corner, and we really won't feel how time flies very fast, in the next 3 months it will be the end of the year. And then here comes the block halving that everyone is feeling nervous but at the same time very excited about it, specially for those who might experienced it the first time.

I don't know why, it seems that I see what Bictoin would do easily and all my long-term analyses on it are proof of that, they always work as predicted. It's my joy if Bitcoin rises to $40,000, after all, I will make more money, but still, I like to face the reality, Bitcoin is not a magician as many would think, and the days when some whales will just be manipulative is over. It's following the due process on the market linked to the financial market itself, it might buy but certainly not as significant as hitting $40,000 this year anymore.

There is too much resistance to undermining the buying of Bitcoin in 2023 and only the immediate pre/post halving could help it and it's in 2024. Even with the $30,000 you mentioned, I don't see a viable resistance at that level. Resistances are below and are above it and there are many to stop its price from appreciating too high this year.

You have a good point, this year is almost gone, though not all hope is lost. The Israel-Palestine issue is another bearish signal, who knows how long it will drag Bitcoin with it? For this and more, it might be difficult to see Bitcoin moving excellently this year, not even for the ETF. People are overhyping this ETF of a thing, it can't move Bitcoin significantly as many think.

I feel like Bitcoin doesn't have enough "gas" to keep up price steady until hitting 40k. I mean at least for now it doesn't look possible. Demand is too weak in my opinion. But in couple of months time things may change a lot. There could be global trend in gold prices that may cause Bitcoin demand to increase I assume. Halving is also coming. I stay cautious but feel like it may be okay to buy and wait nowadays. I also wish we could have at least tiny bit of bull market before 2024.

Bitcoin may reach 40000 in 2023, but it's always worth keeping a short bear trend in mind, which is usually from December to January. Therefore, you should be very careful in your forecasts, and try to react quickly to the situation, without forgetting about stop loss. I wish that the bullish trend will start in the nearest future

We have like 3 months to go before the end of the year and we might be borderline going to see $30k or not. But next year though, before the block halving, we might see the price somewhat around $40k'ish, at least that's what my prediction is. I doubt that we will see some kind of ETF approval there will be another delays but hopefully if everything has settled down, maybe the best time to get an approval is next year, after the block halving so that it will be one of the catalyst for a massive bull run that everyone is expecting. But in any case, for the sake of discussion and the end of the bear market, for me, the peak will be around $35k-$40k pre halving price.

I wouldn't say we are in the "bear" market this year, we started the year at 15k and we peaked over 30k, that is double of what it started, and we are not too far off from there neither right now. I think it should be important to remember that we are going to end up with a good return this year and that should be considered a "bull" run if you want to call it that, I mean you do not have to call it a bull run but that doesn't mean that it could be called a bear period at all.

We are at a great price point right now and I would guess that reaching 35k this year is not impossible, we are already trying our best to reach 30k and we are probably going to break over it a lot better and easier when the time comes as well. This is a hard job because it requires a lot of attention from the buyers and we need sellers to doubt about selling so that we could get to a point where it could worth a lot more so they would stop selling. The main reason why prices go up is not buyers, it is sellers not selling and holding.

I'm expecting a strong bull season post-halving but expecting bitcoin to hit $45k before the end of the year is also unlikely for me.  there are only 3 months left until the end of the year and we are even struggling with the resistance level of 30 thousand USD, so it is very difficult for the scenario of bitcoin to increase 1.5 times in the remaining 3 months.  unless big news like ETF approval is announced but that is also unlikely to happen this year. 32k$-35k$ is what we can expect, that would be more realistic.

I'm even confused about how you make predictions about the market and Bitcoin price for this year and next year. A 12% drop is a lot for Bitcoin at the current price and what confuses me is how you think that such a price increase could easily happen to Bitcoin by an amount greater than the percentage drop you said. If you look at the level of difficulty for Bitcoin to increase this month, it still seems quite difficult for Bitcoin to be at $45K by the end of this year even if you associate it with the halving moment.

We are still in the bear market this year, so I will assumed that it's hard for the price to get up and if I'm not mistaken, the biggest price jump we have is like $31k-$32k. So that is a big accomplishment already since our lowest low is $15,500 for this bear cycle.


Again, the biggest mental challenge or psychological barrier that we are looking is $30k. If we can break it and then sustained that run, we might see something like $40k++ at the end of the year. But the problem is, that barrier is har to break, so maybe like short term, we should look at $28,500 first.

I've never been against the bullishness of Bitcoin in 2023, but I only maintain a view that it would be undermined no matter how hard it tries to climb. This has been happening in the first half of the year and I know that Bitcoin will continue to struggle in the hands of the Bulls and Bears, and by virtue will not breach the barrier of between $35,000-$37,000 as indicated in this thread.

Franky, I must say that I love the fact that you called a value, but to me, $40,000 is not feasible this year, not to mention your $45,000. Bitcoin is such a market that has more resistance ahead of it than support, they will not allow it to move so much, it's after halving that it might make some dangerous bullish movements almost totally unchallenged.

I'm still optimistic that the market will be a bull run at the end of the year, even though this week there was a correction of more than 12% but the opportunity for a rise is very large because at the beginning of 2024 there will be a halving day, maybe this year the highest price that can be reached is around $45k. great opportunity to buy more while the prices are still low.

Correction: I noticed that many of the people who replied to this post didn't get the gist, they thought I was referring to a bullish target in range, but I was actually referring to the highest level that Bitcoin could reach this year if at all it rises. The range it will not be able to break.

Your analysis seems to be betraying you now my friend, Bitcoin is falling and it would be getting to the end of September before it would regain a bullish momentum based on what I sense now. This is when it will start battling much resistance including the $31,450 I shared in a post before even thinking to hit my peak range of $35,000-$37,000.

I strongly disagree with you here, you don't sow during harvest, you plan ahead. This is why there is speculation, and this is not about you being lucky or gambling, it's about training and dedicated work to gain experience that will guide you. This enables you to know what will happen in the market before they do.

My instinct was before the ETF gains much traction among headlines, and with my experience, speculation can't be based on a certain factor, both the economic and market sentiment factors must be overcome to achieve the set target. As for your expectation which is against mine, I don't see it forthcoming soon.

Conversely, I see resistance around the level, you should know that there are thousands of trading analyses. Still, don't forget that this is an instinct, although no one will have it on something without having a prior idea. Let me conclude that it's what my inner man told me after extensive analysis of the market many times this year.

There are many resistances before $35,000 and a strong one before $37,000. Also, you can check the weekly chart Fibonacci analysis to see the resistance around the range levels.

If we look at it from the beginning of the year, it seems that there has been a significant increase, but a few weeks ago it seemed that prices had stagnated, and this has continued to change upwards but will be followed by a decline again.I've read from analysts who say that there will actually be a correction of up to $20,000, although the truth is that it is also difficult to predict what will happen.I think that if there is no correction, maybe the price will not shift like it is currently at around $30K–$35K  before next year and will continue to move up slowly and surely.But actually, if there is a correction, it is usually a sign to prepare yourself to improve.

If we pay attention to the price graph since 2023 then there are no big surprises, and in my opinion it can still be reached if the end of the year can reach $ 37k, of course with the note that this month the price can reach at least $ 33k, because of some experiments the highest price which can be achieved around $ 31K.

For sure it is very possible to happen I mean there is a lot of time left before Bitcoin halving right? So market price could easily gain momentum for the 40k$ market price for sure at the end of 2023 sure market price could easily spike again what happened in the past ber months, I mean I don't expect a lot this year but it is possible since the market already gain a lot of momentum and in my opinion, we are clearly on the right track for the Bitcoin halving. There are still a lot of investors trying to accumulate Bitcoin and on the market, 31k$ is probably where the resistance is, But we could probably rely on the hype in ber months to easily achieved 40k$ in December. But we can't really predict this I mean the Bitcoin halving is the one that could probably trigger the market if we are going to reach 40k$ this year it is possible to trigger the market early so I don't this it is going to happen this year but its a volatile market and its Bitcoin.

and if the OP is solid about his instincts, is he collecting some satoshis to prepare for that moment of increase? because if he truly believes that the price will increase in that range, he should be collecting more bitcoin to take advantage of the current market.

Very hard to answer as we are still in the bear market. Remember that prior to $31k, after the Blackrock news, the price has been moving sideways for the last 2 months. And when it had it's break out run to $31k, we thought that this is it and we are going to maintain that price. However, it didn't, we go back to $30k which we again thought is a good support. It hold for like a week and now we go down to that support price and it seems it become the resistance.

So perhaps that scenario will repeat again. If ever we reach $35k, I'm thinking that there could be speculators that are going to sell to make quick profits. And maybe there will be some investors too that are going to sell, thus breaking down to $30k again.