Bitcoin may test a support soon at $14K to $13K before reaching to $20K

cherryganda

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Quote from: DashingAgent on November 17, 2020, 11:05:56 PM

Bitcoin may test a support soon at $14K to $13K before reaching to $20K

It is likely that bitcoin may test a support soon to around $14K to $13K before reaching to $20K resistnce zone so trade with caution. It is because there are more holders who are still waiting to sell it on $20K so it is possible that bitcoin may test a support before reaching to $20K level to avoid the panic sell otherwise the scenario may be same as of 2017 because of panic sell it took around 2 years to reach to this level again.

If this prediction will happen, I am pretty sure that the majority of the bitcoin holders will do buy back then hold again for the preparation of kicking its price value in the market to hit 19K$ up to 20k$ each Bitcoin. Imagine, it's been 3 years ago before this price of bitcoin hit 18k$ could you imagine that dude, 3 years of holding for the long term holders.

Periodik

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Quote from: yangongear on November 18, 2020, 12:10:15 PM

Currently BTC is close to the $ 20k ATH price, but I think FOMO is still very low, much lower than December 2017, so maybe BTC will break ATH in the next few days. Because BTC currently has only one resistance level of $ 20k ahead.

On the contrary, I think FOMO is very high these days, much higher than it was in 2017. We were just $2,000 short of reaching $20,000 just a day or two ago. During these same days back in 2017, the price of Bitcoin was even lower than $10,000, just around $7,000 plus. So that means we are earlier now. FOMO is felt really strong. We could enter $20,000 before December this year.

yangongear

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Currently BTC is close to the $ 20k ATH price, but I think FOMO is still very low, much lower than December 2017, so maybe BTC will break ATH in the next few days. Because BTC currently has only one resistance level of $ 20k ahead.

bitgolden

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This is something that has been said for a while now, I do not have any data backing it up but since a lot of people are saying this, I think it would be nice to check those support levels and how they are.

I can't guarantee anything but I have seen this here now, I have seen it on one telegram group and I have seen one guy at trading view making a chart for it, now these three things doesn't necessarily means it is right, it could be very well a wrong statement, however it just shows that there are people out there who think there will be a correction period before going even higher. However if enough people know about this, that means they will not sell and they will buy at all times, which would make this impossible since you need people to sell for it to work.

passwordnow

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I don't see any problem if it tests $20k and may drop to $13k - $14k. I'm very happy to see that we've surpassed a very long time without seeing $18k. The next stop is $20k for sure and $19k will just come like a lightning. Sell guys if you wish to do so on $20k, it's ok to take profits. But if it hits there, I'll keep longing for what I'm holding. Could sell some for-profits too but mostly, hold and will wait if we'll see another ATH.

asriloni

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This is a wild prediction without backed by any fundamental analyzation. We are only 1966 USD less to reach another ATH again. It looks like you can't even stand with your old prediction OP.
That shows if you are not even feeling good with your own prediction.

The bullish trend that's happening with bitcoin now is totally different with what it was a few years ago. (probably end 2017)

Imo the correction will not occur until bitcoin will be reaching its ATH

GrayFullbuster

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I do not know but for me it is now like impossible after its rally in these current days, the momentum is so strong and I'm really sure that there will be no deep retracement. If there will be a retracement then I expect that it will go and make some rejection in $16,500; for me that area is most likely to have a strong demand wherein it will be the lowest possibility that the price of the bitcoin can go if the retracement happens. Actually the current move of the bitcoin is good and I expect that in this coming weeks, we will see that the bitcoin can beat the resistance near at $20,000.

Periodik

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It is more unlikely than likely that Bitcoin would fall back to $14k or $13k before trying to reach $20k. It has already gone past $18k just in the past hours. $1k growth was very smooth and easy. This kind of growth will probably give us $20k very easily.

This is very much unlike in 2017. This is way faster now. I think 2017 was kind of oversold to small retail investors due to hype and FOMO. This now is involving institutional investors. This is a larger bull run than in 2017.

Coin_trader

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That's like not gonna happened. That support is too far considering how rapid the price growth of BTC since it breaks the 13K wall for the first time. I belive around 18k to 20k will be the new support this time because I'm certain that BTC will reach above 20K before December and pull back will occur after that.

Always remember that consider the buy pressure of a certain to decide the range of the pullback. The demand is too strong, Do you think someone will let the minimal dump pass. Everybody wants to get in on BTC right now.

hd49728

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Quote from: joniboini on November 18, 2020, 03:18:06 AM

Please stop posting new threads if you don't really have anything to say except throwing some random predictions. What about your previous $35k prediction? No longer valid? https://bitcointalksearch.org/topic/bitcoin-will-be-hitting-to-35000-soon-buy-it-today-5288574

LOL. Many different predictions from low to high and are not able to differentiate between support and resistance.

Quote

Bitcoin will be hitting to $35000 soon - Buy it today!!

There is a strong buying signal. Buy it today now!

I invite OP to read some guides on investopedia for support and resistance.
Support: https://www.investopedia.com/terms/s/support.asp
Resistance: https://www.investopedia.com/terms/r/resistance.asp

Akiko

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Quote from: btcsmlcmnr on November 17, 2020, 11:19:14 PM

What?

Bitcoin was higher than $18k minutes ago and if you wanted to say something with $13k or $14k, it is supports, not resistance. The resistance for bitcoin is $19k or $20k. Three year resistance and it was not touched last 3 years. Bitcoin is closest to that resistance after 3 years.

Bitcoin Support and Resistance for dummies

He means that there are possible correction that will happen before the price beat the 20K. he gives warning that it may happen soon so be prepared if you are Bitcoin holders it's a possible scenario because there is always a correction happen in price every time that there is much increase in price it a test for resistance.

leea-1334

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I for one would very much love this to happen;) I mean,,, I love the price of Bitcoin now, even though I have yet to complete my own target of owning 1 BTC in my lifetime, and maybe I am still two years away if I can keep earning the same price,,, but I do worry it cannot be sustainable without first corrections to $13k or lower (I prefer lower).

joniboini

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Please stop posting new threads if you don't really have anything to say except throwing some random predictions. What about your previous $35k prediction? No longer valid? https://bitcointalksearch.org/topic/bitcoin-will-be-hitting-to-35000-soon-buy-it-today-5288574

cryptomaniac_xxx

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I'm not surprised if this happens though, as I have said in my previous post, we are not yet in 2017 parabolic rise, this is more of 2016 wherein the price is on the yoyo cycle before entering the bull run in 2017. And if so this happens, I won't panic and will continue to save more bitcoin as I can in preparation to the eventual bull run of 2021. And this is another perfect opportunity who are bitching because they miss the boat, expensive but if you are going to think of the next possible bull-run, worth it I would say.

globalpain

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there is a possibility that a correction can occur, it's just that we don't know whether to break the All time high then correction,
or before the All time high correction, the most important thing is that the market still shows belief-denial,
which means that maybe it can go up sharply and pump, or there is a correction first.

gabbie2010

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Quote from: btcsmlcmnr on November 17, 2020, 11:19:14 PM

Quote from: DashingAgent on November 17, 2020, 11:05:56 PM

Bitcoin may test a resistance soon at $14K to $13K before reaching to $20K

It is likely that bitcoin may test a resistance soon to around $14K to $13K before reaching to $20K support zone so trade with caution. It is because there are more holders who are still waiting to sell it on $20K so it is possible that bitcoin may test a resistance before reaching to $20K level to avoid the panic sell otherwise the scenario may be same as of 2017 because of panic sell it took around 2 years to reach to this level again.

What?

Bitcoin was higher than $18k minutes ago and if you wanted to say something with $13k or $14k, it is supports, not resistance. The resistance for bitcoin is $19k or $20k. Three year resistance and it was not touched last 3 years. Bitcoin is closest to that resistance after 3 years.

Bitcoin Support and Resistance for dummies

Bitcoin testing the support at $16K to $17K is much more feasible than the $13K to $14K mentioned by the OP considering the volatility of the price which was very massive in recent days, the price reaching $20K in the next few days to come is very much in sight and I don't think the price will experience the massive dump or pull back like of 2017 based on some positive fundamentals factors surrounding the recent upsurge example like PayPal adoption of cryptos, halving of bitcoin, more people embracing bitcoin instead of fiat while avoiding physical contact with it due to Covid-19 etc.

maydna

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No problem if bitcoin will test the resistance and back to the lower price as the @OP mention. If that happens, many traders will prepare their money to buy back Bitcoin at a lower price because they are sure that the bitcoin price will rise so high and break the $20k. So far, $20k will be the highest price we are waiting for, and we believe that price will be reached at the next bull run. And with the price now is at $18,100, I am sure that the price will increase more this month and next month, even if we still face a correction for the price.

harizen

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Quote from: btcsmlcmnr on November 17, 2020, 11:19:14 PM

The resistance for bitcoin is $19k or $20k.

There's currently no resistance nor support. Just because there is a formed graph related to resistance, it means we can consider it as a resistance level ($18,000 - $20,000). Bitcoin continues to break walls even as we speak that's why there's no even bottom or floor that can be considered today. In other words, people buy bitcoin not because of the price but for the positive speculation.

It does make sense that price $13,000 - $14,000 is considered as a testing wall (support) if ever Bitcoin price suddenly loses the momentum at around the current price and from there, the fuel is ready to make another journey to the new ATH.

But of course, since we are positive, we like to see Bitcoin reaching another ATH with no such thing as a sudden dip that will happen first. But to lessen the expectation, we should also consider other results that might not favor us.

btcsmlcmnr

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Quote from: DashingAgent on November 17, 2020, 11:05:56 PM

Bitcoin may test a resistance soon at $14K to $13K before reaching to $20K

It is likely that bitcoin may test a resistance soon to around $14K to $13K before reaching to $20K support zone so trade with caution. It is because there are more holders who are still waiting to sell it on $20K so it is possible that bitcoin may test a resistance before reaching to $20K level to avoid the panic sell otherwise the scenario may be same as of 2017 because of panic sell it took around 2 years to reach to this level again.

What?

Bitcoin was higher than $18k minutes ago and if you wanted to say something with $13k or $14k, it is supports, not resistance. The resistance for bitcoin is $19k or $20k. Three year resistance and it was not touched last 3 years. Bitcoin is closest to that resistance after 3 years.

Bitcoin Support and Resistance for dummies

DashingAgent

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So many books, so little time

Bitcoin may test a support soon at $14K to $13K before reaching to $20K

It is likely that bitcoin may test a support soon to around $14K to $13K before reaching to $20K resistnce zone so trade with caution. It is because there are more holders who are still waiting to sell it on $20K so it is possible that bitcoin may test a support before reaching to $20K level to avoid the panic sell otherwise the scenario may be same as of 2017 because of panic sell it took around 2 years to reach to this level again.

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