Bitcoin support levels - page 2. | Bitcointalksearch.org

skiorf

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Quote from: Savemore on December 30, 2019, 10:49:56 PM

The current support of bitcoin is around $6400 and it can considered as major support where the price are mostly bouncing, if there will be a breakdown that will happen; the next support level is at $5500. And if the $5500 got broken the next support is at $5000 where we can considered at psychological support. It is a bad sign if the price of the bitcoin get breakdown again because it only saying that the bearish market will still last long.

I disagree with you, because I am not sure Bitcoin will decline to $5,000 as you say.
because it seems like you are using a 1D timeframe to name that price, whereas December is at the end. as I usually do for the 1D timeframe when the month moves to January the support and resistance lines will change, so it doesn't have to be $5,000.

Juggy777

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Quote from: exstasie on December 30, 2019, 05:12:00 PM

Quote from: Febo on December 30, 2019, 04:36:25 PM

It hit $6600 twice. On 25th November and 18th December. And in both cases it bounced back. Now we are waiting what will happen third time.

Well, we got the double bottom attempt I was expecting. The daily candles look pretty ugly with that $300 dump today, but we're still just chopping inside the same range from the past 2 weeks. I'm not confident in a revisit to the December lows yet.

If we do go back there, I don't expect a triple bottom. Those are extremely rare. I'd be looking closer to $6K or $5,400 for support.

@exstasie bitcoin prices won’t touch $5400 levels so soon because they have found strong support at $7k levels, and even if we assume the worst then also I feel that bitcoin prices will start rebounding at $6300 levels and it won’t slip any further. As of now bitcoins prices are trading at $7200 levels on preev, and in my personal opinion bitcoin prices shall end the year between $7100 - $7200 levels what are your thoughts on this?.

Oneandpure

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I think at $6800 is most support level for bitcoin price and become your chance to invest with bitcoin during faced with bitcoin halving next year and have higher price, you can start your investing with bitcoin on support level price $6800 and waiting your investing is fill completed and hold until several month later when bitcoin halving coming one month again you can sell it and get profit.

danherbias07

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You might have missed the entry point which is $6800.

There is still a resistance with $7k. It might have dropped that low but it did not take long.
I am expecting a large pump again after this year. Investors will be buying out of fear or having a though that they might regret it later.
Later is the upcoming halving.
I don't believe some analysts which tells there will be not much movement before that.
There will be. That is my opinion though, you can also have yours.

Reid

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It may not go below 6k anymroe. That may have been the last time we will see it.
Lucky are those who have bought some bitcoins at that time. I really hoped I did but I am too busy with things and didn't even looked at the bitcoin price.
As I checked it, sadly it was already back to $7k+.

There is an event getting near which is called the halving and as days pass by we might see more pumps that will happen for people will be buying back.

Savemore

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Quote from: exstasie on December 30, 2019, 05:12:00 PM

Quote from: Febo on December 30, 2019, 04:36:25 PM

It hit $6600 twice. On 25th November and 18th December. And in both cases it bounced back. Now we are waiting what will happen third time.

Well, we got the double bottom attempt I was expecting. The daily candles look pretty ugly with that $300 dump today, but we're still just chopping inside the same range from the past 2 weeks. I'm not confident in a revisit to the December lows yet.

If we do go back there, I don't expect a triple bottom. Those are extremely rare. I'd be looking closer to $6K or $5,400 for support.

The current support of bitcoin is around $6400 and it can considered as major support where the price are mostly bouncing, if there will be a breakdown that will happen; the next support level is at $5500. And if the $5500 got broken the next support is at $5000 where we can considered at psychological support. It is a bad sign if the price of the bitcoin get breakdown again because it only saying that the bearish market will still last long.

exstasie

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Quote from: Febo on December 30, 2019, 04:36:25 PM

It hit $6600 twice. On 25th November and 18th December. And in both cases it bounced back. Now we are waiting what will happen third time.

Well, we got the double bottom attempt I was expecting. The daily candles look pretty ugly with that $300 dump today, but we're still just chopping inside the same range from the past 2 weeks. I'm not confident in a revisit to the December lows yet.

If we do go back there, I don't expect a triple bottom. Those are extremely rare. I'd be looking closer to $6K or $5,400 for support.

Febo

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It hit $6600 twice. On 25th November and 18th December. And in both cases it bounced back. Now we are waiting what will happen third time. It can broke down below it or no. If it will get rejected then i double will go down to $6600 again.

palle11

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Quote from: UnDerDoG81 on December 17, 2019, 12:45:04 PM

People still believe bitcoin can be predicted. No price ever of btc made any sense. Few people decide the price of bitcoin.

That is the point why people lose money in trading and bitcoin investment because they listen to btc prediction. I only know btc has a use case and I just buy low then wait for convenient high for me and sell for profit. The prediction isn't really followed up by the price.

Oceat

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Quote from: Silberman on December 30, 2019, 12:18:53 PM

Quote from: Wexnident on December 18, 2019, 01:11:02 AM

Welcome to the $6.6k level then. I'm hoping for final bottom to be around $5.9k or $6k at the most. We were around $3k at the start of the year so ending the year with double of that plus entering halving with it seems promising imo. I do hope the next 24hrs could bring a clear indication of where will BTC hit its bottom. I'm slowly buying off every now and then but it still is worth it waiting for that final bottom before BTC performs a push forward once again.

People still worry too much about things that are not really that significant, I believe that in the worst case scenario we could see a price of 5000, but as I said that is the lowest I see bitcoin reaching, most likely at some point there is going to be a point in which bitcoin reaches 6000 but the bulls will immediately defend that price and we go back to 7000 just as it has happened all the times we went below that resistance level, so instead of panicking take the opportunity and buy bitcoin when that happens.

Luckily, Bitcoin's support is strong enough to hold at $7k despite of the recent drop it made last week due to holiday season IMO. There's no need to panic selling this month and continue to hold so that Bitcoin will remain just like this until the end of month. But if whales decided to dump then it's still a good opportunity to start buying since the price would go down that time.

Silberman

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Quote from: Wexnident on December 18, 2019, 01:11:02 AM

Welcome to the $6.6k level then. I'm hoping for final bottom to be around $5.9k or $6k at the most. We were around $3k at the start of the year so ending the year with double of that plus entering halving with it seems promising imo. I do hope the next 24hrs could bring a clear indication of where will BTC hit its bottom. I'm slowly buying off every now and then but it still is worth it waiting for that final bottom before BTC performs a push forward once again.

People still worry too much about things that are not really that significant, I believe that in the worst case scenario we could see a price of 5000, but as I said that is the lowest I see bitcoin reaching, most likely at some point there is going to be a point in which bitcoin reaches 6000 but the bulls will immediately defend that price and we go back to 7000 just as it has happened all the times we went below that resistance level, so instead of panicking take the opportunity and buy bitcoin when that happens.

hugeblack

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Be relaxed and don't let the panic take over, the $ 200 drop doesn't require all that panic.
I agree that we have low levels, but the price is still resisting to rise, so I think that we have found solid ground without collapsing below 4000 dollars and other numbers.
This is one of the analyzes that I consider good and that explains what happened.

Source and more information: https://www.youtube.com/watch?v=HDt3_oNYhEg

Wexnident

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Welcome to the $6.6k level then. I'm hoping for final bottom to be around $5.9k or $6k at the most. We were around $3k at the start of the year so ending the year with double of that plus entering halving with it seems promising imo. I do hope the next 24hrs could bring a clear indication of where will BTC hit its bottom. I'm slowly buying off every now and then but it still is worth it waiting for that final bottom before BTC performs a push forward once again.

micro4lpha

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I'm hoping it does go below $5000. It just seems like the time to sell as it's Christmas and people just want to spend, lol. Just my guess.

crossabdd

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yes, bitcoin continues to show a descending pattern and there is no sign of a breakout yet. I think $6000- $5800 will be reached until the end of the year. then at the beginning of the year bitcoin will be stuck to determine the next direction or give a show for a bullish sign. the best entry is $6000- $5800. but still monitor the price of bitcoin. because this is only a prediction and can change at any time.

1Referee

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Quote from: UnDerDoG81 on December 17, 2019, 12:45:04 PM

People still believe bitcoin can be predicted. No price ever of btc made any sense.

Every price of Bitcoin makes sense. It's just the supply versus demand that can change quickly, some times even from day to day. On the way up the demand for months straight exceeded the supply. Currently we're experiencing the opposite. People need to calm down and let the market bleed.

When you see the price go up like +300% in a matter of months know that the price will come back down hard. Look at the charts. The year doesn't even matter. All Bitcoin does is pump and dump hard, but it always manages to bottom above the previous bottom. I'm confident that we aren't very far from the next higher bottom.

Quote from: UnDerDoG81 on December 17, 2019, 12:45:04 PM

Few people decide the price of bitcoin.

The whales you mean? I'm pretty sure that whales are being crushed too.

Slow death

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Quote from: Paulinerims on December 17, 2019, 02:41:06 AM

So Bitcoin dropped under 7040$ support and fall to the next one at 6800$. Are the support level at 6800$, 6400$ and 5800$ breakable? are we really going that low.

It seems that Bitmex users are very confident that the price will not fall too much and that will soon have recovery, at least that is what it says in this article:

Bitcoin Price Hits 3-Week Low Even as Investor Bets on Bull Move Surge

I want to see how this will end

Quote from: Paulinerims on December 17, 2019, 02:41:06 AM

Where would be the best entry point till the end of the year in your opinion?

To be honest, if it breaks $6500, then we will see $5600 and if it breaks $5600 then we will see $3000 again, of course it is still very difficult to imagine the price falling below $6000.

exstasie

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Quote from: Paulinerims on December 17, 2019, 02:41:06 AM

So Bitcoin dropped under 7040$ support and fall to the next one at 6800$. Are the support level at 6800$, 6400$ and 5800$ breakable? are we really going that low. Where would be the best entry point till the end of the year in your opinion?

No signs of a bottom yet. At this point, I would expect a double bottom attempt off $6,500 but I doubt it'll hold. We probably need a harsher dip below the lows (like the October dump to $7,300) to run stops and shake out all the marginal longs. $6K or the $6,150 level David is watching are both reasonable short term targets.

$5,400 is the next level of interest after that.

The Sceptical Chymist

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I tend to give a big LOL at those supposed support levels, because if they really supported anything bitcoin wouldn't constantly be dropping through them. It's at $6707 right now, so I guess that $6800 support didn't hold, eh?

But all that TA stuff aside, just remember that bitcoin started off this year at around $3200, so it doubled in price by the end of it. Yeah, there was that big pop up to $13k, but that was just a crazy mini-bubble IMO. If 2020 starts off with bitcoin at $6700, I'm hoping we have at least as good a year as this one was. The market certainly doesn't seem very bullish, but that could change. The halvening might even have some sort of effect, who knows.

UnDerDoG81

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People still believe bitcoin can be predicted. No price ever of btc made any sense. Few people decide the price of bitcoin.

Topic: Bitcoin support levels - page 2. (Read 464 times)