Bitcoin can fall up to $9k or rise up to $17k - which one will happen. - page 3.

Raflesia

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We may see the rally upwards once we can break this 12k price levels and then may be 13k would be easy to achieve it. But currently it is in between 11.5 to 12k price and finding it hard to break that 12k. It had tried couple of times and had fallen back but good thing is that it had bounced back from those fallen levels and keep moving upwards. So more inclined towards 13k rather than the fall.

Previously, bitcoin was also in the range below 10k but to try to redeem it takes time and of course in the end it can redeem and stay at the current level, now strong in my analysis we are now at 11.6 that's just a little bit of 12k in the analysis we can reach it in the near term and continue to go higher 13k maybe in a few months, but still now it won't be too bad a bear market.
This continuous pumping will be a lot of positive thinking and will not panic when things are not desired.

piebeyb

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Looking at the price charts and as usual I use the MACD indicator and the weekly StochRSI I see that in the next few weeks there will be a price correction, but if it holds and doesn't go below $ 11k, chances of the rally will continue advancing higher, but if it goes away below it will probably be lower, so just wait about the next 1 or 3 weeks

LogitechMouse

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As long as Bitcoin will not go to its 200 MA which is sitting at around $9k right now, I will be bullish and will lean on to that $17k price.

My prediction for short to mid term is that if Bitcoin will go below $11,000, chances are it will go below $10,000 and going even below $10,000 is the $9,000 like what you said and on the other hand, if Bitcoin will pierce and closes above the $12,000 for a few days, chances of going up to $17,000 is higher or it will not reach $17,000 but at least near that price.

Whatever happens, just be ready in both situations Cheesy

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Oasisman

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Quote from: Juggy777 on August 23, 2020, 04:47:22 AM

However it’s pertinent to note that if bitcoin prices slip from the support level of $11.2k, then there’s a high probability of bitcoin prices slipping back to $9k levels.

Yes, this usually happens everytime Btc hits a maximum range, there will be short pull back or worse a correction below the support level. But that doesn't mean It would happen automatically. Everything still depends on the sentiments.

Quote from: Juggy777 on August 23, 2020, 04:47:22 AM

Lastly I know that it’s really difficult to predict where bitcoin prices may head, but what are you’ll opinions on this article and which prediction do you think we will witness in the short term?.

I would definitely not going to look at the short term perspective of Btc's price range, but rather I'd be more attentive in a long term output. If Btc reaches $17k in a short term period, then that means most likely Btc will be valued more than that in the coming months.
Nevertheless, the article says a more realistic range in a short term period Btc price movement.

HiringYou

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I think both the outcomes have same probability.It can even reach $17K as this year has been quite a good year for bitcoin till now so more growth can be expected or it may even drop to $9K as the price is somehow stuck below $12K from last few days .So it is difficult to predict exactly that what will happen in the coming days.It is also possible that soon a drop will be observed in the price and afterwards it will rise again.So let's see what will be the situation in the coming days.

tomahawk9

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Quote from: Tytanowy Janusz on August 23, 2020, 06:28:25 AM

Whales trapped bulls after breaking 12k resistance perfectly. After that event bitcoin looks weaker and weaker with every hour. I expect bitcoin to test 10-10.5k before even trying to go up.

https://i.imgur.com/IUBYCEM.png

IMO, there's gonna be a lot of support around the 11k range. Last week, after testing almost 12.5k, price went down to 11.5k but quickly bounced back. A week before that we also tested the low 11k's for a bit, and at the beginning of the month, after the massive spike in the price towards 12k, there was a drop but it stopped at 11k. I have a feeling 11k is gonna be the new floor from here on out

Quote from: jossiel on August 23, 2020, 06:22:06 PM

It is like the other articles that have a say in the price of bitcoin. In whichever level of the price we are with, the same speculations are coming from this to that. Saying that price could go as high as this xx amount and could go as low as this xx amount.

$17,000 is very plausible and it could go as lower than $9k.

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enhu

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The previous resistance is usually going to be the strongest support after the breakout, this $12k I think is a strong resistance for now. If it really will go up to $17K soon and drop. It might just be on the $9500-9700.

That's a huge gap, I'd probably expect the higher leap also when it goes back up when it once again break the $12K resistance but this is always going to be speculation that will condition our minds.

beerlover

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"Fall up to"? Something doesn't fall up, it falls down. Aside from that I agree that $17k would be the one that could happen right now if you ask me. I know that $9k is quicker and easier, just bunch of bitcoins sold in the market could cause it to go down, when there is a chance that some bitcoin owners wanted to sell and when the market doesn't want to buy from that level the price would go down, that way it would go down very easily.

However going up requires a lot of new money to come into the bitcoin world which would be a lot harder. That is why $9k looks easier, but just because something is easier doesn't mean that it is more possible, we have seen bitcoin price going up before haven't we? We have seen it before and that is why I agree that bitcoin price would go up even though it is tougher possibility.

InvoKing

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Quote from: Yamifoud on August 24, 2020, 09:46:46 AM

That is also a reason why I don't give more time to hearing the news but rather to watch the market changes. It is enough to know where we go (probably).

Even watching market changes doesn't help a lot. Sometimes the news don't have any influence with the bitcoin price, other times its effect isn't that big.

Yamifoud

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A person who has said this is also not sure what will happens next (as we'll live that though). Similarly, we all have the same speculations citing for another pump or worried about dumps that will follow after this huge increase. However, I keep believing that the market will continue to move high and reach $15k, $17k, then...rather think a dump will show up $10k, $9k.

What the news says is also pure market speculation, the up and down of the market price is always happening. That is why people got into FOMO because of these unreliable resources, fake news, and many more that affect the minds of all crypto holders. That is also a reason why I don't give more time to hearing the news but rather to watch the market changes. It is enough to know where we go (probably).

pooya87

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i disagree on both sides for the same reason this type of prediction was wrong when price was in $9k range.

first of all bitcoin is in a rising mode and during times like this it is a lot harder for its price to go down than it is to go up. that means going to $9k (below 2 very strong buy supports at $11k and $10k) is a lot harder than going above $12k (the resistance).

secondly so after breaking a resistance we can always expect a jump which is usually due to panic buys but since $12k hasn't been such a big resistance and not for long enough time to shape such FOMO action, a >41% rise is not possible. such jump at this point would be to $14k range (>16% rise) which is a more reasonable speculation.

we had the same situation in $9k range too. the same people were predicting a fall down to $6k (some even to $3k) with the same flawed logic. the same rules applied then and they apply now too. we could expect a fall to $8k (a small drop) but a bigger rise was more possible with the difference that $10k was stronger resistance and had lasted longer.

peter0425

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Better to fall 9k again before heading to 17k$ because i have been waiting now to re enter half of my money since i have sold already some of my holdings.

I made a decision because reaching $12,300 for Bitcoin is really hard this year so when the price reached that i aggressively sold my coins and wait for the correction or downfall again because i am sure that greatness will happen either end of this year or mid of 2021.

bakasabo

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$17k seems unreachable imho. All we do in last 2 months is just growing. Even though there were no news or cases to stimulate this growth. Bitcoin's price just grew from 9k to 11k by itself. This can't continue all the way till $17k. I might be a pessimist, but I don't think that the price can rise up to $17k. I expect the price either be on the level of $11k, or go down and touch $10k. Really cant see any reasons for growth.

crwth

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I'm still looking at the long run. So upon checking the chart on a daily timeframe.

There is significant major resistance on $12000 and major support around $11200. So IMO, if one of this breaks, for example, the $12K one, it will be bullish, and it's possible to reach the $17k that you want. If $11200 is broken, it's possible to reach $9k on that rally. No one could really tell for sure, but as long as we are aware and watching the market, we could utilize and take advantage of knowing the possibilities. Don't you think so?

maydna

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Bitcoin price can fall to $9k or even lower than that, and bitcoin price can rise to $17k as we know that bitcoin can go to any price without we know. The important here is we need to prepare anything that might happen later, so we don't panic, and we can stay calm to think about what we need to do related to the current situations. Perhaps, when the price is down for more, there will be a flash dump that can happen because people panic to see the price is down, so they sell their bitcoin without think that the price will go up later.

If the price can increase again, we might see another rally to the high price, and we will see the price can break another high price. So let's wait for what will happens later.

DevilSlayer

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Quote from: davis196 on August 24, 2020, 12:02:52 AM

If the price stays stable at 11K USD for a few weeks a correction will happen for sure.
I don't share the opinions of the analyst,who wrote that article,about the theory that reaching 12K USD would mean that Bitcoin might hit 17K USD.Last summer(July 2019),the Bitcoin price reached 12,9K USD and after that, it went into a bear market that lasted until the end of 2019 and beginning or 2020.
I know that past performance isn't enough to predict the future price,but you can't use one prediction (12K) as a proof for another prediction(17K).

We have different analysis and it is the reason why I don't believe in news outlets or people who are talking about the price of the bitcoin. The price of the bitcoin managed to bounce in its current resistance which is at $11,400. There are 2 wicks there which indicating that there are people who are willing to buy in that area. I also think that the price may consolidate a little bit on that area of value.

There are 3 scenarios that may happen, first is it may go to sideways for weeks or even months. The second scenario is there will be a breakout that may happen where the price will managed and hold above $12,000 and the last scenario where the price may breakdown and create lower lows that will indicate weaknesses and will give a sign that the trend is becoming bearish.

davis196

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If the price stays stable at 11K USD for a few weeks a correction will happen for sure.
I don't share the opinions of the analyst,who wrote that article,about the theory that reaching 12K USD would mean that Bitcoin might hit 17K USD.Last summer(July 2019),the Bitcoin price reached 12,9K USD and after that, it went into a bear market that lasted until the end of 2019 and beginning or 2020.
I know that past performance isn't enough to predict the future price,but you can't use one prediction (12K) as a proof for another prediction(17K).

Free1bitco.in

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I support a prediction that says the price will reach $ 17k. although not actually reaching that price this year, I think the price will be closer to it. however, I am sticking to the increase in prices that occurred after the halving. it is likely that this price can be reached in 2021.

hatshepsut93

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Why not both? I can totally see Bitcoin falling to $9,000, staying around there for a few weeks, then starting to rise again and reaching $17k in 2-3 months. We've seen both $3.8k and $12.3k this year, so big swings in short time are quite possible in Bitcoin, as they always were. I think in short term the market is a bit bearish, because the bullish momentum is being lost and we are now on the defensive, but that's okay.

jossiel

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It is like the other articles that have a say in the price of bitcoin. In whichever level of the price we are with, the same speculations are coming from this to that. Saying that price could go as high as this xx amount and could go as low as this xx amount.

$17,000 is very plausible and it could go as lower than $9k.

Just like the old times, we get to see higher highs and higher lows or lower lows.

Topic: Bitcoin can fall up to $9k or rise up to $17k - which one will happen. - page 3. (Read 637 times)