Topic: Is the $17,000+ bitcoin price breakout benchmark to new price direction (Read 988 times)

I'm not sure if you are talking about the $17,000+ price breakout, but I have a feeling that 
 
I don't think it's going to be a good time to buy bitcoin at a price that is close to the ATH.

It is difficult to say whether the price of $ 17K is a benchmark for the New Price Direction, currently the price of Bitcoin is like a mystery that is difficult to guess, in January there is a significant increase of up to more than 40%, but in January it actually decreased by more than 10%, this of course this Makes us have to always be vigilant, especially if there are big cases like FTX which make a market drop in a short time.

Why stop buying when the Bitcoin price reaches $40K? It's not that Bitcoin has also ever increased in price by more than that and there is still a possibility of repeating the same thing in the following years by increasing by more than that. So if you have a reason to advise everyone on buying, you should also be able to provide a reason why you are telling everyone to stop buying when the Bitcoin price reaches $40K.

Many people think that the increase that is happening right now is a trap because prices will fall deeper, hopefully this will not happen and this year it can recover, I'm afraid if this year drops again like in 2022 then many investors will run and choose other investments so they need long time to be able to rise again. if we focus on the long term then I suggest to keep buying and stop when the price reaches $40k.

in recent weeks the price movement of Bitcoin has occurred slowly in a positive direction, even though it has not yet touched $25k but this is very possible considering the positive trend that continues to occur.
but for the price of $ 17k the benchmark is too low I think, and it's true that Bitcoin fell to such a low price last year for only a short time and after that there have been positive developments.
at the beginning of 2023 there are many positive price signals from Bitcoin and I also hope that this is the start of a bull run and also I am ready to welcome it with great joy.

If we look at the price of $ 17k it only happened in less than a day because the market continued to rise. Today the price is back up to the $23k level, i hope no more dips so this week it can touch $25k, when the price can reach $25k it will be more than 60% increase compared to the end of 2022 price position, and now is the time to continue collect bitcoins and we welcome bull run with fun.

for me still no continues prove that we are stopping to drop from that point because Bitcoin still hardly move towards 25k in which the next target to show that there will be something best happening this 2023, because the price still almost the same as what the last year has given us.
it did already Hit 24k but have not stays long , but once it broken the 25k then we can have a fair look towards 30k.

Bitcoin price outlook in February is somehow dull unlike in January we're bitcoin started the month on a bullish note and ended January at a very remarkable price.

We are 5 days into February, and the price of bitcoin has shown a slow decline movement with no sign of more price recovery like we had in January.

But since the month just started and bitcoin still maintains or starting price of 23k+ it shows that bitcoin is not ready to give into a price dip anytime soon.

The price of bitcoin in the past 2 weeks has shown gradual changes in the market, and take note that it has shown positively that its value has gradually increased.

Could this be the start of bitcoin entering the market in the upcoming bull run, or do we still have to stay in the bear market? But like others here in this forum, they are also excited about what can happen but of course, we still have to wait for what can happen because it is volatile as we know.

January was a very good price recovery month for Bitcoin and it has proven as you said from a low of $16K to $23K+. And now in February there is still a more positive movement even though the correction is still there so that the Bitcoin price is still at $23K+ even though it was briefly in the $24K+ price range. I am still very optimistic that the price increase will continue this month after the correction is over.

If only for this February, I think it will still be a bit difficult for Bitcoin to cross the $35K price range as Bitcoin needs to reach the $30K range first this month before heading higher in the next month of the year. Because according to my speculation Bitcoin will not have enough time to move above $10K in 23 days this month.

I agree that the uptrend is still there, and bitcoin will probably hit $25k or higher this February, but the $35k target is too high expectations and too hasty with bitcoin. BTC is up over 40% in January, which is not a low gain while we are still not out of bear season. And let's not forget that the real bull season only comes after the halving, and we are more than 380 days away, so expecting bitcoin to hit ATH this year is too vague. Optimism is good, but don't expect too high, if you don't meet expectations, you will be even more disappointed.

Yes, we should be prepared for some exciting price recovery this new month as the market indication is showing more uptrend movement, the month of January 2023 has recorded a rapid market growth from a low of 16k to 23k+ price by the 31st of January.

The month of February is highly predicted to be the month bitcoin will cross 35k price and if that likely happens, we should then be sure to have another all-time high in 2023 but that is just speculation anyways and shouldn't be taken as investment advice.

This thread has been open like 3 weeks ago, and today is the last day of the month of January and now we are $23k++. So obviously, we had a break out run already and it could be pushing for higher prices in the next coming months or so.

So this so called bull run at the start of 2023, could really be the biggest indication of what is yet to come for this year.

Yes, we are still in the bear market by definition, but it's not that bad if we see some recovery from the lows of $15k-$17k last year and maybe we can make x2 of that price this year or even higher.

Anytime Bitcoin get a little difference in price we do have many speculations around the corner, but many of us doesn't rely on such analysis of people without a proof, it's very obvious that the price of Bitcoin now with my deceived many people to make claims of the price without have any fact. So what you believe or be assured of in Bitcoin market price is the research you made by yourself. Because many people have different analysis and negative informations concerning Bitcoin increment and degradation in Values.

When the price of Bitcoin broke the $20k benchmark mark I already know that the market is about to start another phase of recovery and that trajectory alone gave the market a push to the present price, as at today bitcoin is already aiming for 24K which is a good move that the market is already on a bullish recovery mode and in the next couple of days ahead we should watch out for some remarkable price recovery back to $30k or above since there is more open buy order pointing to that direction.
-the demand for Bitcoin is higher than it supply which is as a result of strong buy in and less sell appetite from holders.

Once again, BTC proves that it was truly unpredictable as many of us thinks that it was only a trap which have happened last time and they think they are correct by the time the price fell down by some percent but then few weeks later it showed a big jump. It is seems that the correction is already completed because when I check the price now, the price have moved again to $23k. This is exciting.

Now, we will see if it will hit the most awaited $24k and $25k this time or not. Halving is a real thing or maybe you mean the bull run during the halving time is not real? But, the effects of the halving is real so it will still make the price rise that it could lead to a bull run.

yeah , and weeks after ? bitcoin now stronger holding 22-23k and maybe in the next couple of weeks more we will be seeing 30k?
if this going to happen like how OP posted this , then maybe we are in the beginning of Bullrun(not waiting the Halving things that impossible to happen as it is what for the last how many years)
it already did and it is now holding that above 20k price for more than a week.

I dont really believe in the waiting till after halvimg before we can see wide sprea acceptance of bitcoin, Bitcoin is already gaining mainstream adoption and with countries already legslizung Bitcoin in the last one year even without halving it make it clear that Bitcoin indeed have a wide varieties of factors that are beyond speculations.

Halving only reduced the Bitcoin block rewards and only miners are directly affected by that, unless for the reduction of bitcoin circulation due to lowered miners block rewards, aside from that investors and other Bitcoin users may not really have a direct effect on the halving except if the price move in whatever direction after the halving.

I will have no problem admitting that I was wrong on my prediction, I really thought there will be a very intense battle between the bears and the bulls at 20k, but it did not happened at all, what we are seeing instead is a very fierce resistance at the 21k level, as the bulls try to break away from it and yet the bears bring the price down almost immediately, it would be interesting to watch which side wins at the end, because if the bulls are the winners I could see the price reaching 25k before we face another major attempt by the bears to bring the price down.

The moves at this level appear massive because we are moving off relatively low levels, thats part of the energy to the risk of those involved.  Fortune favors the brave but it doesnt mean we have to continue as positively.   BTC broke upwards just as the background market sentiment turned quite positive, a new start to the year is some dynamic I recognize.   What really matters now is the consistency to the move, in 2017 there was a pattern to the lows but the action was quite subdued and appeared to sell off; however each low was a little higher then the last.  This was enough to be bullish, so I like we got past 20k but I guess I have to observe the same now in that low prices matter also in day week and month bars.

The price keeps on reaching new barriers. Right now it have touched $21k which is quite big considering its value around $17000. There have been discussions will we experience $20k during the month of January. Myself never believed, because the price has been moving within particular limits without exceeding the margin. Finally breakout have taken place and more investment will flow in, which could keep the market bullish. As mentioned back to back price pumping could take the price higher depending on the positive incidents happening around.

It is around there, and the good thing about the situation is that we didn't had just one pump. We reached to 19k levels first and then stopped for a while and then reached to 21k after that once again too. Which is why it's such a big deal, because it means that we have reached to a point where it had 2 big pumps back to back.

This doesn't mean that we are going to end up with a big increase later on neither, maybe it will and maybe it won't but that doesn't change the fact that it will not have anything good coming up, it could have a few more back to back increases like this until the month ends and maybe we will close the month with 30k? That is possible if you ask me.

I saw it hit $21k just now but it was short and sweet, however, I was on the fence as the price suddenly drops to $20,400. So the resistance but now should be in the $21k'ish, as this is the second time that we have attempted that price breach it and then goes down hard again.

It's weekend anyway so let's how its going to be slow and the price will continue to ascend and not go down below $20k because that is a big psychological barrier that we need to reach and then sustain.

Once the price reach the $20k barrier, the market will try to have it as the resistance point. From there the chance of falling down to $20k seems to be low. The price is moving at faster phase, which doesn't look to be a temporary move for a crash at the shortest. Some predicted it as the market is being tested and rest will be manipulation. Let's see what's gonna be the outcome.

20k is an important resistance level so I expect a huge sell wall which could stop this rally for days or weeks, now this is not bad news as it could allow us to keep buying bitcoin for a price below 20k for some time, however I think that resistance level will eventually be broken, but the problem is that it is so early on the year that it is impossible to discard the possibility of touching 16k or a level close to it again, since it is not possible to predict what it may happen in this market or on the rest of the economy as well.

Decisive moment for bitcoin right now. Or it's going to break the resistance level at 20,000$, or it's going to almost hit 20,000$ then crash to the new support level. Big expectations of seeing bitcoin keeping the positive trend above 20,000$. On the other hand, since we are talking about a trend which has started only 3 days ago, and it's pretty intense, there are chances it's just temporary, because when the price pumps too fast, it also dumps really fast not too long after... I would be more confident if this trend had been already lasting for a week, at least.

As far as I can see, it is above 19k right now as well and it looks like it's going to stay there for a while. I am not saying that this increase is start of something awesome and we will be 100k in a month or whatever, it's not going to be like that for sure. But, I am saying is that we are looking decent right now and there is no reason to bash that, there is no reason to be hopeless even at the face of victory.

This is why it's going to be quite important to focus on making as much profit as we possibly can and it's actually a good thing to see it as a risk even when it's up, because you won't be blinding investing, and keep one eye on it, but you should get involved anyway.

Yep. Today, it passed $19k for a moment. Although it doesn't last a long time, it is surely a good sign that Bitcoin is likely to improve its price constantly. Once the price stays above $19k, it is not very far from $20k. In theory, $20k may be achieved in several days or weeks. But if there is bad news, the price may decrease again temporarily. However, these all are positive indications that this year seems better than last year. I bet Bitcoin already hit its lowest price last year, this year is a time to begin its improvement constantly. Let's hope there is not much bad news anymore, so the price can increase without significant obstacles.

Most pro-crypto peeps didn't enter the moving train because they seem to be fully aware of the recent surge in price to be a bull trap just like the market always does in preparation for the coming bullish market. However, the bullish market will start this year and it not going to happen in Q1 or Q2.

We will always have people who will always leave the market when there's a bear and come back when there's a bullish. I believe that's their own strategy for avoiding panic selling.

Right, the price is just below, at $18,850, so it's very interesting how in the last 24 hours the price seems to be jumping and have hit that $19,000 price, unfortunately, it was not sustainable for the meantime.

But we are still far from the bullish sentiments, we need to get to at least that $20,000. That is the biggest test for us, get to it and then have a sustain run. For sure as this is the biggest resistance, it could also mark at the selling point for some speculators to make some money specially those who have bought at $15,500 to $16,500 range.

Have crossed 19k recently but drops down to 18k again in which I am seeing that we are heading to new  direction comparing to what we have in 2022 though we are far from hitting at least 20k again?
but we have positive look to what will come sooner.
and hoping that this is not just for January but the whole year I wish.

Historically, between bear market and a bull market there has been long periods of stagnation and sideways trading, that are generally still viewed as a part of a bear market. This is likely a part of this pattern. Price going up and down, again and again over certain range - this time it's around 16k to 22k. A sign that the real bull market has started would be a rapid breakthrough above 30k or even higher. Right now nothing truly interesting is happening.

Doesnt matter on where it would be peaking out as long i have accumulated on 16k price point.Its not bad to make out some sell considering the price had reached up 19k (18900 as of this writing).
Its true that we do have that 17k+ resistance but turns out to be broken.We are now playing around on breaking that 19200+ and if it would succeed then we might be seeing 20k once again.
It is really just good to see that we are seeing some green candles after long the wait because we've been bearish all the time and we are hoping something like
this which it might be a good start.

It is difficult to predict what will happen with the price of Bitcoin in 2023. The value of cryptocurrencies can be highly volatile, and it is influenced by a wide variety of factors. However, some people believe that the upcoming halving event in 2024 and increasing mainstream acceptance could lead to a significant increase in the value of Bitcoin in 2023. The future of Bitcoin in 2023 is like a rollercoaster ride, with the halving event as the booster rocket, only time will tell if it reaches new heights or crashes and burns.

Bitcoin is going to break some level of doubt this period and haven't attained a $20k in this early time of the years is a pointer to how great this year 2023 will be for cryptocurency and Bitcoin especially.

There have been alot of buys in this period and most people buying Bitcoin now afe in for long-term basebecause their all preparing ahead for the Bitcoin halvimg time before selling so there is a ling way walk for Bitcoin in this year 2023.

Several possibilities can still occur but seeing the current conditions they are already at $ 19k actually they are quite strong and it could be if the increase continues $ 21k is still possible if you look at the current resistance but on the other hand this is also a little complicated because we know this condition occurs because there is some pretty good news and we also know that sometimes bad news can come suddenly amidst conditions like this.

Don't know the exact reason, but I don't think this was sudden pump, but I have seen bitcoin getting stronger since early January. For now, the price has broken through $19K and it is very possible to break $20K in few days. This has convinced me that the lows have been passed and it is time for recovery.

Pay attention to this data, I can say that bitcoin is a good tip from January 1st to now based on this, and Complete data can be seen at: Coingecko

I've read an analysis that we'll never go back under $16k or $15k. The highest that I've seen so far for this sudden increase is $18,700 and it has broken the resistance of those analyses that I've seen.

Yeah and I'm expecting things will be better after the halving.

There's still a long way to go for this year and the positivity of the situation is increasing and bitcoin is doing better than of last year.

What could be the reason for the sudden pump?

I don't think there will be a bull run this year so I agree with him that this can be a bull trap therefore we must be careful about it but I think pro-crypto peeps aren't entering a moving train. They know how risky it was and usually the only ones that does that are the newbies.

There are some who aren't really a newbie but they are just too weak. They come here once the positive trends come back and then they'll leave once it diminish. The price is already at a newer direction by the time it heads to $17k but we don't know what can come next. $17k might be our latest support from now on and it might stay there for a good amount of time.

I'm not excited at all since we're still below 20k. I had high hopes for bitcoin in 2021, but that was until we broke the historical ATH to the downside and did not bounce back, like we like to do when the low point is temporary. Anything below 20k is a tragedy for the price, for miners and the whole industry.
I'm still a holder and I know bitcoin will be above 100k one day, but since we fell lower than expected, we could argue that the lowest in the last 10 years when it comes to moving averages, I don't expect anything big to happen before the halving. It's going to be great if we go back to 25k this year, but that's probably all she's got.

I'm actually still not too sure about this, this could be a bull trap. The previous CPI prediction was 6.5% but the current figure already shows 7.1% which of course there is a 0.6% gap which actually I feel when talking about 0.6% inflation is quite big.
There is always a possibility of going up if this is indeed not above the previous CPI prediction this possibility will be bullish even up to $ 19k even if the increase continues it could reach $ 21k but if other possibilities regarding bitcoin fall I don't think I will be too surprised to see them back to $16k price.

17k+ is a good sign that there will still be increase in the run of this year,this is a great improvement for bitcoin movement and investors will be expecting more rise of price. I woke up this morning to check and bitcoin price has moved up to 18k,which hasn't happened since the past three month,this shows that there is hope for the price to get up to 20k this year.

Don't be excited by the little increase in price and think it's the time to start trading your coin,instead keep hodling more bitcoin because the halving circle is still yet to come.

Bitcoins crossing 17k usd have really made many crypto investors excited. Yes as op mentioned, it might be the start of the new price high range. Right now the thing that is required is just fuelling up the price with enough demand. If now more people will try to buy more Bitcoins, then due to the limited supply of the coins, the price will increase. Still anything can happen, but currently Bitcoins have increased a lot. It’s a positive sign to be honest. Next week will be definitely crucial for the Bitcoins. Let’s hope for the best.

Heh, remember, this subforum was full of threads of "17k" and "18k" already over the last few months? There's always someone to get excited over any arbitrary number.

Not that I'm unhappy over the last couple of days. Think it's a pleasant surprise. Only we've still got to watch out for CPI and rate hikes again -- remember the market dived despite Fed not actually doing anything more than expected.

The story seems to have been after the incoming news of the El Salvador government taking their Bitcoin legalization to another peak by signing into law the Bonds that support all cryptocurrencies.
Therefore, this current price surge could be the preparation for anything but we will definitely know if it's for the bull trend in the next few days.

12th Jan we have major data arrive and that might change the whole market mood.    At the same time chart wise we meet possible resistance, I dont know this is actually going to halt us at all but arriving here just in time to match news occuring is serendipitous for that whole speculative play.   We've expanded range anyway because we were stuck quite tightly in a range for like near 2 months.
YTD4hr

Not a bull trap but can be consider as a small pump and a preparation for the real bull trend.
Its also good to see altcoins following the pump of Bitcoin, this is a good sign but yeah too early to celebrate. If there’s another pump that can actually reach the price of $20k, then we might start this year on a better trend. Its good if you are able to bought at a cheaper price, bull is about to come.

It looks like $18K will break through again in the near future, which is evident from how the cash flow into bitcoin has been very strong so far. The increase in interest in bitcoin may be due to adjustments in The FED's interest rates or some things other, but that is only a factor that will have little or no effect on demand.

I don't expect super significant increase earlier this year, but a small increase like this should have made some people smile. Hmm, I'd love to see how $20K get break during January, that's becoming very likely.

The Bitcoin market positive trend was an amazing move by the market but it's too early to have the impression that the market bullish is back and I think we have to wait to confirm the trend the market will showcase next week to be sure since the market always makes some bullish trends just to compliment the bearish market. Although the bullish market will start this year but not in the first or second quarter.
What I am saying is that this could be a bull trap.

There has been no real significant price movement in the last few days even though the actual dollar value of my asset estimate has increased by a few percent. I'm happy to say $17K became new support in January, but I don't think it will be very strong if the selling pressure remains too high. A fresh start to price recovery is always to be expected, and we may find out if this $17K actually holds out over the next few days.

I wasn't affect by this small increase, and I wasn't thinking too much about a possible correction either. So both directions are necessary, and it would probably be nice if by mid year I had managed to accumulate a lot of bitcoin for under $20K.

I'm usually not big on "breakouts" or judging price movement by small movements in one direction or another.  However, it is definitely felt that BTC was so stable for months and then suddenly started melting up above $17K.  Especially with all of the exchanges out there scrambling to try and secure customer funds and the GBTC fiasco or whether or not they have the claimed funds...  It feels to me like this is the start of another bull run.  I'm sure we'll see at least one major correction on the way to new highs, but I think this entry point will be looked back upon fondly for those who buy now.

The increase in bitcoin to 17K is a good thing and I hope that the price of bitcoin does not return to 16K, because at the moment the price of bitcoin is still struggling to move above the 17K price area and it is hoped that this area will now become a support that will determine the price of bitcoin will continue to rise gradually .
and currently the bitcoin price is still a good option to collect more bitcoin before the bitcoin price goes up, and if the bitcoin price returns to 16K price there is no need to worry and keep buying for the long term.

If we become so excited at this point, what happens when we reach the 20k to 25k market price which is very much expected before the halving cycle that is somewhere around 2024?
Anyways it's not bad to point out any significant movement in price and bitcoin reaching 17k at this moment and that os something we should be grateful for that and except much more market changes that will favour most investors that bought Bitcoin at its lowest price during the bear market around 16k. In the best possible spirit,  this should be a time to buy more Bitcoin and not to cash out the dust profits that have been accrued from thos present price increases.

I am still very calm and also do not doubt the future of Bitcoin which has proven good through its history. And if the current increase is any indication of a jump to $20k or a prelude to going to the next ATH next year, I will be even more pleased if this proves to be true and my enthusiasm for continuing to hold Bitcoin also increases.

At the moment I only expect an increase in Bitcoin without considering the possibility for a decline that can still occur, because at that time there is no bad news or news that can scare investors and traders who are often in the market. I believe that Bitcoin will find it easier to get a price increase even though it looks very slow in its movement for now.

Well, it's definitely better, but not really an indication that we're going bullish. I reckon a break over the $20k would be the minimum at least to call it at that, and that's just the minimum. Still, it is much better and looks more optimistic now since we've finally started seeing some increase in the market ever since that dip a few months back. Currently doing a slow and steady pace of increase with a few days of steady movements which would hopefully continue till $20k maybe before stagnating for a few months again.

Looking at price action and how candles have printed, this certainly looks like we trading a pullback which many of us are calling a bullish run but this is to early to call! But should we break the $22000 & $25000 price then market direction could change for certain.

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Certainly not yet bullish just a pullback and Binance users withdrawing their cash is because many use these guys as a wallet service but now the message has been delivered , "Not your private key, Not your coins" and people are simply protecting their assets.
I thought Investors aren't short sighted, aren't they suppose to be buying from the weak hands.

Scenarios like this always happen all the time so I maybe if there's no news that can move the mountain then maybe we can see this to happen until next month. But hopefully there are big news that will surprised up the market which can contribute to all people to feel that they need to accumulate so that we can see some constant good changes on the market so that those other accumulators will go alive again.

What Fuds about Binance are you referring to? The Fuds I hear about is the controversy between Gemini and DGC, both are accusing each other, and it is worth mentioning that they are from the same company, and one news that is not too important is that cryptodotcom has delisted USDT in the Canadian market. But all is overshadowed and what everyone is most looking forward to right now are the Fed meeting and CPI news.

I also think this is not a sign of bulls in the market but we can expect a short-term rally in January. We need to be careful because it is most likely just a market price trap of gullible people.

Well I am 'bullish' but think we will fall back down below 17k again. There is so much fud in the news right now and also with Binance which customers withdrew $360 million just on last Friday.
I think there are potentially new investors that are nervous and worried about putting their fiat in to Bitcoin at the moment. MicroStrategy who said they will never sell their coins have sold 13.5% of the holdings.  HODL your crypto because this new year 2023 might be a bumpy road. 

After experiencing a decline in the past few days, it looks like bitcoin is gaining ground again as we see its price increase. It seems that the condition of the bitcoin price will go back up and down as before but there is a possibility that the price will continue to increase little by little. And after this first quarter, we may see an even higher increase from the current price. But we must always be vigilant because the price of bitcoin can go anywhere and if it means that the price goes down again, we have to use it to buy more bitcoins.

But still a good start for year 2023, and it seems that investors have forgotten already the FTX debacle and that's why they are pouring their money in the market again pushing it above $17k once more.

Hopefully this can be maintained at the end of the year, maybe the Feds will make a pivot again when they released their CPI and this could be a good news for us as it might signal a bullish return for this month.

With that exceptional predictive ability you have, you must be tweeting from your yacht on your way to your private island, right? One of these days, apart from being a big mouth, you could post proof of how you short Bitcoin and make money with it.

In response to the OP, I think this year is going to be one of slight rises, but we are very low and the normal thing is to go up, but we should not be too excited about the slight rise of these days that may be due to pure variability in the short term, there is still a long year ahead....

it is as we are at least more than a year before Halving so in this behalf I trust your prediction that  chopping for another months will take effect and also expecting so much this year or month just because of small increase this January isn't enough to make me believe that bottom had been over.
lets see in the coming at least before December? if we truly break that 20k and starts heading up more then i must take that to be benchmark to new direction .

We can't predict future prices but the market hasn't hit a recovery high and isn't bullish yet, if you compare last december prices there may have only been a $1K increase in price but good impact for a positive move in the first quarter of this year, we are already feeling confident that current price movement could signal that the market will be bullish this year.

Not sure how long that bullish look will continue last with Bitcoin, but I am very happy that this is happening right now when many did not expect such a price recovery, but seeing bitcoin above $17,000 is a big relief for most investors at least after a long period of a bear market, seeing a bullish recovery move is a big relief.

Let's just hope this momentum will be continued, and as such we will see more significant price benchmarks in the coming days.

Well I have to classify the outlook for the moment as optimistic.   I drew these lines last year (thats ages right) and its pushing past with a 50 day average (in blue)also ascending also is a positive sign to include in assessment.   I do think 20k is more important then these levels but it cant be ignored that we've been this low for so long and are leaving it behind.  Would be nice if we built a base here and its been the groundwork for more positive price action.  Longer term its the 20k level and that 200 day in yellow that is a proper challenge but we can rise to that area

Really hard to tell since we've bee able to test out this range for how many times which the price is trying to break that $20k but it do fails up when it do hit up that 17-18k resistances which it is really that hard to make

some breakout which anything it do touches up the ceiling then it do bumps down or been rejected.No one really knows if this current small steps would be able to hit up that 20k in few months or weeks.
It is really that hard to make out some decisions if we do see that there arent much news or events on the market or around just to make out some investment decisions.
We do need up that catalyst because it is really that putting in doubts whenever we cant see anything.

Yes, but the price of Bitcoin has been dangling around d that 17k price for over 24 hours now and there has been significant market pressure for the price of Bitcoin to pull up to 17500 but the bear market is still putting intense pressure to pull the price down.

But we believe that in the coming days ahead bitcoin will make a further market recovery because the market is already recovering from the many crises that faced the market in 2022 which have put pressure on the market pressure that led to the collapse of many token and coins market, but some of those altcoins are recovering at the moment.

The increase in the price of Bitcoin cannot be said to be significant because the current price range is still very far from the all-time high that has ever happened to Bitcoin. In the last 24 hours the price of Bitcoin has touched $17,398.8 on the exchanges that I saw and it's still not very significant for Bitcoin because it's still under $18K. I just hope that Bitcoin can have a gradual increase every month before a new ATH is formed, because I still imagine that a correction can still occur suddenly in Bitcoin this year.

I also believe that the first quarter of the year will be bearish. Even with its recent upsurge to $17K I see it coming down to the 16K mark since it has find support there. The second quarter of the year might see it at the $20K+ price. Then if it finds support there for a longer time and without any major saga like FTX then we might be able to test bullish period in the last quarter. As it is right now there’s isn’t any thing to be concerned about just accumulate by averaging

There might be no significant improvement at all. This movement is a small response from buyers after many weeks of selling. 

The hype has been over so unless you are a day trader or a swing trader, you should only focus on accumulating bitcoin without overthinking its price. New glory will return, but I suspect it will happen in 2023. Late 2024 is what I expect

And until now, the price of bitcoin is still able to stay at $ 17k even though there have been several corrections that have occurred in bitcoin but bitcoin can still last longer. The bitcoin price can go down again and there is a possibility of a return to a lower level than the previous price but we hope that will not happen. And if there is a deeper correction, let's hope the price stays in the $17k range and doesn't drop further down. The bitcoin price will start to gain traction after the first quarter of the year passes well and the price doesn't drop below $17k.

In Bitcoin's move through the $17k new value in recent days Bitcoin we saw Bitcoin starting to show bullish fangs and to the delight of some of its investors, we ourselves are very pleased with what is happening in the market, the rise of Bitcoin brought several other Altcoins to rise as well, which we are now waiting for saw a significant market change rocketing upwards in early to late this year.

No I don’t think breaking $17k means anything. We can still go back in the range. I think once we break $20K and regain the 200WMA then there is a confirmation we might of bottomed.

I think this don’t happen anytime soon. We will most likely chop for many months until we get a clear trend of what is happening with the macro market. This week will be CPI and will clue in how the rest of the quarter will look like.

17k is just the very lowest bar, I'd argue 20k is more like the proper first rung on any ladder to consider a change in direction or proper move up.     I dont agree on most points above but I do like the idea you really dont take a price as a serious statement to discuss until its maintained that level or higher for 5 days or more.   Basically 5 days as a working week or the full week is a fairly low ask.
   The reason why you wait 5 days and also why the other points are wrong is that volatility exists.  We can reach any price in theory when weighing in volatility in a price, this is not a steady ship we're on its in fact all over the place and price will swing wild high and low inaccurately.    I will also argue that is why BTC will be used so long as it is useful to a global online audience.
  Why would you state inflation in all other assets but not Bitcoin, can we agree if its used the price goes up.   Disagree outside of that that you decided BTC is not useful to you personally so perhaps you cannot envisage anyone else using BTC.
  BTC is not a perfectly assured physical asset, it is speculative but it also will continue to be used so presuming only negative progression in price from here is not adding up.    I'll be waiting for anything better to be invented, of course society does benefit when new improved assets arrive especially when more efficient so price negative for one thing is often more then just inflation its the rebalance to greater efficiency elsewhere; right now all I see is very likely continued currency failure not improvements.   Society will suffer from that failure, anything more reliable will be positive imo.

There is some good possibility that we could have something like that, doesn't mean it will happen but its not unlikely neither. Breakouts are a bit unknown and they rarely happen, look at the whole year of 2022, we never had a proper breakout at all. Which means that its going to be pretty tough to end up with a good breakout. At the end of the day there is a good chance that it may not happen at all. If it does though, its definitely possible to start at 17k+ level right away and go to a great level after that, it will definitely have some good standing ground because we have built a great support here.

Is this growth another Bull trap?  Why I am feeling that it is another trap full bulls?  Looking at news, there isn't really good one to back the current recovery of Bitcoin.  Instead there is another news that can be a source of FUD that can derail this recovery which is the current update on quantum computers[1].  So I think we have to wait a bit before jumping into conclusion that this uptrend of Bitcoin is the break out to bullish market.

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[1] https://news.bitcoin.com/chinese-researchers-claim-success-in-breaking-rsa-encryption-with-quantum-computer-experts-debate-veracity-of-discovery/

Yeah, these market bounce can be used by the traders to book short term profit. Following the rise in the price of bitcoin, the same is being experienced on ethereum. We can expect similar level of market fluctuation to continue for long term. Right now it seems to be the accumulation phase where we need to be good trying to have as much in the wallet.

This possibly be a bull trap so don't get your hopes up yet the real bull market will not happen this year but it's fine to appreciate the small growth of price. Traders are happy for this since they can make a good profit after staying for the $16700+ for a while. It can't sustain for a long period of time thus, what the above said was you don't consider this as a long time pump. Make some profit out of it then wait for the right time to sell when it's going down again.

Possible but could also stabilize at such market price point. I'd more hope for a higher market value if it would be able to reach $20k barrier, but also won't be certain. Everytime the market becomes bullish, news relative to the increase surfaces the web but there ain't any so if there will be a sudden increase at this point, I doubt that it would be continuous. There was a huge downfall fro its ATH so I guess there should be something 'big' in order to be back to its original price and that is what I am hoping for if not this year, for next year, in relation with the next anticipated Bitcoin halving. But ofcourse if it is possible for the increase to take place earlier, then that would be better for sure.

We should not be too bullish for now as this 17k price has not sustained for long time, we saw how most of the market including some altcoins did a 40% to 50% price increase within just a few hours which seems like a pumped market to me.

Most of the coins lack the liquidity to sustain their current price but then investors are happy that this is happening after a long period of a bloodbath on their portfolio. But we should keep a close eye on the market, for now, to see how it will act in the next few weeks ahead.

I was just replying on another thread saying that we should break $17k, so in less than 24 hours we were able to break that price and go as high as $17,200. So clap back to all investors and speculators who invest again.

I'd say though that we should look at how long we can maintain it, or the question is if we can sustain this price or there will be a lot of sell off for short term profits. Specially those who buy at the lowest low around November at $15,500. Those short term holders might do it if we somewhat goes to $17,500. So we will see as I'm not that confident with this break out run until we settled first and have a sustain momentum.

I would say it is not really a fake out or anything by the looks of it. But while we are trying to get the price going up, and I mean really try and not a fake, there could be some people who may want to see it go down a lot more and that is fine because we do not have to accept our faith and let it drop, we could fight the bear ones and we could end up with fighting it out. That doesn't mean that something like this has to be a real issue, it's going to happen until the bulls win.

We just need one win, if we could get that, all the other bear wins will not matter. When we win just once, then it will come in like a snowball and keep growing until its ATH.

No man, we ant bullish yet but on the verge of celebrating a new price dynamism that will change the overall motivation level, Bitcoin reaching 17k is something to celebrate at this point most especially now that Bitcoin has suffered a long time in price volatile that forced its price to stay a little above 16k for long before this current price pushes up.

I am positive that this current market condition will continue and we go passed the face of the Bitcoin downtrend, even if we don't see any significant bull market.

Correction right after an increase is normal and it's also normal that an added increase will happen after it. Now we will see if this continues breaking over $20k or we will sit on this new price for a while. It's been a while since we haven't seen a major negative news so yeah the market should breath better now. Even though there are people who try to control their excitement for a while, that still can't do a harm in the market since they won't be selling but they may continue buying more coins so we can witness an increase after some time.

If you ask me if this will stay or not, of course, I will gladly say yes but for some, they can say that it's too early to tell yet.

I thought interesting that bitcoin hit the 17,000$ yesterday followed by a small correction which pushed it back to $16,900. However, after that bitcoin started pumping again and in accelerated steps to 17,300$ already. It's undeniable the market has gained some sudden breath for some reason, on the opposite of what was expected, that was bitcoin facing a deeper correction yesterday.

Investors are putting hopes and expectations on bitcoin in this beginning of 2023. The question is, has this sentiment come to stay or is it just temporary?

It is still very possible that the price will decline again. But for today the market is showing positive signals specifically on Bitcoin. If many speculate that 2024 is a possible year to see ATH, then at first glance the speculation is starting to come closer based on today's price situation.
We still consider the current price increase the first step to jump to the $20K price point.

Stay calm and never doubt the future of Bitcoin.

I really hate being a total utter killjoy and while I'd really love bitcoin to go on a bull market already, are we really getting bullish over this, this soon?



Like come on.

I'll go for going back down to below $17k very soon and then swinging between $16k to $17k for a couple months before we found the right momentum to bounced back to $20k levels and so on heading to the next halving , we are currently entering a phase where people who cashing out the bitcoin for holiday expense ..

It is now officially back and we can witness it by now to have a steady rise.

It is not only related to Bitcoin, but many markets started to rise, and perhaps the reason is the US employment data, which may indicate a slowdown in the pace of interest rate hikes that the Federal Reserve may carry out.

the markets are preparing themselves for the next Federal Reserve meeting, which if it goes in the same direction as expectations, we will witness more rise, or a rebound to levels closer to $16,000.

This is an overview of the market trend.

The price of $17,000 is nothing more than a convergence level, more than a psychological level, which means that we need to break the top at $19,000 to confirm the rise.

No. The price will fall back below $18k before it can spend more than 10 days above $18k. There is no path for bitcoin to sustain greater than 10 consecutive days above $18k this year. We could possibly see it in 20-30 years when bitcoin is a digital collector's item, but by that time the cheapest Toyota EV will cost over $200k and a starter home will be over $2m.

Today Bitcoin holders in large numbers have seen the very sweet reality of the Bitcoin price having broken through the $17K level this month which is still a very good start to the year. And there is a possibility that it is true as you said that if this price level can last longer, especially this month. So it would be reasonable to expect more increases in Bitcoin after the month is over or within the first quarter of the year.

I personally am very happy to see that Bitcoin can increase again at the beginning of this year because this is what everyone, including speculators, expected during the past year when it was still in a bearish condition. And it would be extraordinary if in the first quarter of this year Bitcoin could immediately get a slow price level recovery in the market.

Bitcoin have indicated some positive price movement in the early hours of today 9-01-2023 haven't stayed down below that price for several weeks back and haven't rely around $16,000 price for over the past few weeks.

Today bitcoin price suggested another new price movement direction and at the moment Bitcoin is around $17,277 which is a significant improvement.

Most especially for now as the market have struggle for long to resist a further pull back since the past weeks, even some speculators predicted a $15,000 low before recovery.

But at the moment bitcoin have broken that benchmark and if the present price is sustain for long and possible more price increase occurs it will become clear that we should expect more bitcoin price improvement in this first quarter of 2023.