Topic: ¿Correction/pull-back at 10k? (Read 380 times)

Even now there is huge support at $9500 which might never make the price go below that at the current stage. You should have bought some coins between 9500 to 9600 as it might already have given you some good profits if even you have sold them at 10000.

Now, buying more coins can get riskier as the price is already struggling somewhat near to 10000 which might even make a correction if it goes below 9500 but if it crosses 10300 than we could soon see bitcoins reaching the new target. At the current stage, you can speculate the markets are try to enter somewhat near to 9700 and try holding them before you could see at 10300 if you are looking for midterm trading.

It should not really be difficult for you to speculate the price of bitcoins if you are closely monitoring the graphs. You can try to compare various interval graphs to get a rough estimate for the price movement and it would really prove useful for you.

For example, you should first consider 1 day graph which would confirm the current day movement growth and then you can move over to 1 hour graph which would roughly estimate the hourly candles where you can find some perfect entry points. You could also predict the price if you have huge knowledge on weekly charts. Understanding the weekly charts is a bit difficult for not impossible.

it will be difficult to predict the price of bitcoin, but hopefully this is only a correction and can return to more than $ 10,000, honestly I always monitor the charts

actually?you got it perfect mate because after at least 3 days from your prediction?yeah we break $10,000 and no fullback happens until now,not like those days when the Pump happens but just after hitting the 5 digits value there are already incoming fullback.
let us hope this rally will be up until May of this year and all the Holders at least may taste aoo the risk and Patience they spend in this Currency.

If you are a huge buyer in the $ 7000 to $8000 then you have something to rejoice just had a milestone this early of the year it finally reach the $10000 level and there's a lot of great things coming, like the halving and so many companies and countries adopting Bitcoin, now is the time to reap your profit, or better sell some but not most.

I think a crrection will come and bitcoin might go to 10k or a bit low then 10k, but maybe a hige grow will come later this year if comes money on market.

I think, even if there will be a correction about the price of Bitcoin, it would not dump lower than $10,000. Since the start of february, when the $9,600 barrier has been broke, its momentum rapidly increased until it reached the value of $10,000.  But, it didn't stop there, as I have observed same day after it reached $10,000 value, a hundred has been added in its price hours after. Today, the changes in the price of Bitcoin slowed in $10,100 which incorporates a struggle but, it is only a part for the development of the price of Bitcoin, sooner or later it would pump again that might reach $11,000 this month.

I think there will be no correction at that point because the price increase did not occur in a sudden unlike before wherein the market value jumped from one point to another, wherein those were more likely the times when correction occured. But still, we cannot be certain, there could be changes, changes that could be in favor for us, and changes that won't be.It is more likely to be at that point, the market price has just entered the $10,000 barrier and the next move will determine if there would be a correction or if the uprise would be continuous and if it would break into twelve or more. By the way, the indicators do seem to be a good one, because there are changes with the number of transactions, which might be because of some people who are holding and investing at this point, expecting for something huge to happen on the following days.
The halving is expected by many people to occur this year which is quite absurd knowing that there cannot be a pattern for such thing, making it impossible to be predicted. Feel free to correct me if I'm wrong, because as far as I know, such occurrence happen randomly.

The pump that happen 3 months and a bit ago when Chinese president expressed his love to blockchain  rebounded at 10k. So resistance is expected.  I think the halving brings a lot of positivism, but on other hand people are also uncertain about corona virus and the economic crisis it can cause.  

i am not scolding OP, just saying that entry is best during calm market and the "accumulation" phase, when the rise begins in most cases it will be already too late to get the best deals.

and the quote is response the starter of that topic suggesting that because there was a small (<10% drop) there should be a massive drop within 24 hours down to $8k (-20%). as we can see now price remained above $10k for 2 months after that claim. i can't see the future but at that time it was indeed over.

That's simply not true. Most people who try to call the bottom during a downtrend are wrong and the price will keep dumping on them.

You were proclaiming the bottom was already in back in August/September last year:


Now you are scolding the OP for not buying in the $6,000s?

It's very reasonable to wait for a confirmed bull market on the higher time frames before buying in, and especially before leveraging long.

In order to have a correction we need to have some sort of indication that price can't go any higher. Correction basically means there are people who saw the increase in price and decided that they want to sell and take their profits, now what does that mean?

The price has to reach to a point that people would be willing to accept it as a good profit. For that to happen the price first needs to stay still, because in otherwise situation price would be still going up (like it is now) and why would anyone be willing to sell their bitcoins at the current price when the price continues to go up? So in order for a correction, we need price to stay still and maybe even fall a bit like it happened last week, then all other people would have to agree that its time to take a profit as well.

at the moment I am pretty sure the price of bitcoin will soon pass the $ 10k wall, however, the price is so close now and it seems like this price increase will continue to occur. in fact, I think that this February, the price of bitcoin will exceed the price of $ 11k, so I think $ 10k is already in an area that is very possible to achieve.

the point is that whenever you want to enter a market you do it when things are calm and at the bottom not when the rise has started. it is not meant as a regret but something to keep in mind for future decisions.
right now it is not possible to predict whether we can see a pull back or not. we can guess and that's about it. i've already shared my thoughts above.

however if you can't make a decision, then place multiple buy orders at different prices. unless you are trying to buy a very small amount of bitcoin (like $20) you can split your money among multiple orders. for instance buy 20% right now at the current price, set aside another 20% of your money for the possible case of a pull back and the rest for the other possible case of a rise meaning to buy as soon as price broke $10k.
the numbers are just examples, adjust according to your own liking and based on how possible you think a certain outcome is.

The price at the moment is getting close to the $10000 mark. Probably when price reaches $10k surely it'll undergo some price correction before the next jump in the price. The growth pattern seems to fluctuate and give a growth at the end over the past few days. We can expect the same form of growth to happen till the days of halving.

Following the growth of bitcoin good increase in the market of almost every altcoins were experienced. This has got similarity as the previous bull trend taking price to ath value of every cryptocurrency.

Now or never.
That is how I think.
If there is a chance do it.
No one knows what the future will be. Which is equal to no one knows where bitcoin will really go.
All are just mere prediction without 100 percent accuracy.

In the end, it will be your decision. Don't come back blaming others for what choice you just did.
They can put all the technical and whatever kind of analysis it could be but as I said those are predictions only.

There is both technical and psychological resistance in the $10K area. I've been anticipating a pullback from there for a while. Not necessarily from $10K exactly but the general $9,800-$10.3K area.

It's possible the market explodes right through it; markets are unpredictable in that way. However I'm certainly considering the possibility of something like this:



The 200-day MA beckons.

Same thing again over again... that is like telling you that you should buy lower at 200$ if you wanted an investment. Or 5$ if you did it at 200$.

I honestly don't get why everybody keeps telling me that I should bought lower  . Isn't that applicable to literally... everybody?

I am trying to take the best option from the moment I am here. Of course buying at 7k would be better.

I am just trying to guess which price will be better, if the current one or the one we will have after touching the 10k resistance, but as I am new I don't know how btc normally reacts to that kind of things. Even if I plan on holding and DCAing is comprensible that in case we should expect a really strong pullback at 10k, I could go for it when reaching 10k, instead of buying at 9700 which is almost there.

My conclusion so far is that there won't me a major pullback after taking a look of the books an orders of the exchanges. I don't see it going back lower than 9500. On the other hand I see it going to 10500 without any pullback at all. So I have an order at 9600.

not significant and not after $10k. but smaller correction and before $10k meaning if price couldn't break it then we can see a small drop but if it breaks $10k then chances of it coming back below it are very small since there is a much higher chance of price shooting a lot higher.

well you should have bought when price was a lot lower than this if you wanted an investment, even so you still can buy even if price was higher than this. if you are day trading then your question is wrong.

I'm sorry if that bothers you but it's the usual question that you'll get from people because just few hours ago the price was lesser by $500. I see the point of your justification and I have heard of that before because there's a motion for the market.

And with that said, it's better to buy when there's a movement not that when it's too stagnant because it seems too unstable and the direction isn't sure where it will go.

Dont hang off the round number of 10,000 itself, consider all the different nations clocking up BTC in their own money.   USD sure is important but its not the money I spend every day and I refer to a different price and so with BTC there is no round number significance on a personal level.     It matters and it doesnt, for convenience any flat thousand will register as it will be in alot of orders but I think we'll find the actual top is past 10k and it matches the 2019 Summer low prices partially; I call the convenient flat levels speedbumps.

   The easiest way to find a probable area of turn around right now is go back and using weekly bars, observe where they open and close and share a common resting point.    The more points shared, the greater the likely volume in this area.   Even better is if you can collect the volume from 6 different exchanges and amalgamate the data accounting for FIAT exchange rates at that time and perfectly match volume.   I dont have those resources to be juggling that constantly so Bitfinex is mentioned as a reliable source to spot volume highs and lows because its one of the largest exchanges.    
  Also this index is trying to bring in some formality or standardisation to traded price I think, not sure BTC will ever conform uniformly like conventional markets but it could be significant if many acknowledge and use it as a resource.

$9,000 for me is the key support for Bitcoin now.
Breaking above $10,000 could be easily $11,000 - $12,000.
If you see the weekly timeframe chart of Bitcoin, the volume is decreasing while the green candles is rising. Bitcoin is ready to burst.
If it is good to you, much better if you put some buy orders in hourly/daily support levels because it is possible to say some huge dildo candles or wicks nowadays.

I sincerely don't get why is that question repeating, obviously I haven't chosen to buy higher on purpose. I opened the question when I knew about btc world/thing + had my money available in the exchange.


The same reason why everybody didn't bought at $3000. And $200. And $5. I guess everybody would prefer buying before and at a better price than how they did.

All of you learn about btc and/or got some money at some point, and there was other people before you who entered in a better moment than you that could make the same question.

Why you just opened this question when few hours ago we were @ $9,100. This is one problem of some buyers, they tend to buy only when they see the price starts to rise and when it's on the bottom, they wouldn't ask such question or act accordingly to buy.

I'm a holder and basically that's all I do but when we see some dips, buying without hesitation is what I do. Corrections? just expect that it will come most of the time. It's an unending cycle when we see it pumps.

Yes, when it exceeds 10k the correction that occurs next may not be lower than 9k because even the correction that occurred yesterday is not lower than that value and it seems very likely for this surge to exceed 10k and then the price will only struggle at that value. But if you believe prices will rise higher in the next quarter, I think buying now or waiting for the next correction is still a good idea because waiting or buying now is the same in the sense that you buy at a price that is not cheap anymore because the price will continue to increase to be more expensive.

I've been anticipating a correction off the $10K-$10.5K area for a while. It's a major horizontal resistance area on the long term charts due to past pivots/failures. It has technical importance too: the market hasn't made a higher high pivot since June 2019, so bears have strong motivation to attempt a selloff before that happens.

The bullishness is hard to deny though. The way this consolidation is panning out, I'm beginning to doubt we'll see any lower than the $8,800s where the 200-day MA is.

Im not really into technical sentiments but if we do talk about signals or patterns then i dont see any bullish momentum for btc price and resistance of 10k
would neither be break or not.Pullback and corrections is inevitable yet we are already heading for halving.We can possibly able to see shooting up prices
but still not an assurance or guarantee.

For now its better to sell out if you have bought a little bit lower on todays price.Going short as of this moment isnt really a bad idea.
Just accumulate when theres correction.

Well the decision is yours, but I will advise you to through my previous post here and some other advise you may see here later for you to make an informed trading decision to avoid later regret for not making an informed trading decision dude and I wish you all the best Man.

It's now when I have money available. Of course buying before would be better but I prefer to make the best available decision rather than blaming myself and ending up buying even higher.

This is the major problem so many people do have most times. They are always afraid of buying when Bitcoin price nosedived which is the perfect time but they end up buying when they noticed the profit they would have made if only they buy when Bitcoin price at xxxx low than the current price.

There could be a pullback at $10,000 but there's nothing that’ll really force that. $10,000 may act as a psychological sell point for lots of people but it might not. In late 2017 we carved through $10,000 like a knife through hot butter.

Stop trying to catch a bottom because it’s unlikely you’ll get it perfectly. Buy now or cry later.

I see that you are currently in the state of dilemma and if were you, what I will end up doing to be on the safe side it to use about 50 percent of the money I have for the Bitcoin investment to buy bitcoin now that its value is still around $9500 - $9600 because there is a strong tendency that Bitcoin price will hit $10,000 and above before end of this month. But the tendency of Bitcoin price to drop significantly at this time is very low.

I didn't buy at 7k because I haven't had the money available. Unfortunately I wanted to, so I have seen the opportunity passing in front of my eyes. But its now when I can buy so I'm trying to choose the less catastrophic entry.

My question to you is: were you buying bitcoin when it was getting pounded down to below $7k?  That would have been the ideal time to be buying, whether you're looking for short-term gains or investing for the long term (IMO).  If you're wondering whether you should be buying bitcoin when it's on an upward tear, you might have missed out on the best opportunities already.

However, I do think bitcoin is going to go higher--$10k within a very short time frame isn't out of the question, because as I'm writing this post it's above $9700 right now.  So even if you didn't buy when it was low(er), I don't think it would be a bad idea at all to buy now.  You definitely don't want to miss out if we start shooting past $10k, nor do you want to wait until bitcoin's price is near its peak (wherever that may be).

Edit:

Gotcha.  You could always wait for a dip, but you'd be taking a chance of missing out--you don't know how high bitcoin is going to go before there's a dip.  If I were you and I had the money to invest and the stomach to take the risk, I'd buy in right now.  But you know your situation best, so do what you think is right and good luck.

It seems like a lot of support is being builded around 9500. ¿Do you think we will face a significant correction at 10k? I am doubting between buying more now at 9500-9600 or waiting to the correction.

But it seems that it could pass 10k without any pullback, or there could be one but not strong enough to go lower than that. What would you guys do?