Topic: Where next for Bitcoin: $20K or $50K? - page 4. (Read 447 times)
I think 20k is more likely. Bitcoin tends to reverse the direction when momentum is lost. It's still to early for the big bull run, halvening is 1 year away. If there will be no big upwards push soon, those who bought recently will start taking profits (which are quite high if they bought below $20k), this will trigger more profit taking and create panic.
With price now at the 2021-2022 previous 18-month long support level around $30K, as highlighted, where do you think price will go next?
It is good to continue to DCA would be my advice. Definitely our thinking and speculation was that bitcoin would reach $30000. It is now $30000 and what people would be thinking about now is if bitcoin will continue to rise or not, or if bear market is going to follow.In my opinion, I think bitcoin price may still rise further, but if it happens like how it happened while it was at $28000, it was a strong support price that made the bull market to continue further and hit $30000 today. If bitcoin do not fall or rising back to $30000, I will be expecting $35000 to be the next support price.
But I checked the monthly BB, all I think is that it is possible for bitcoin to increase to $35000 before falling again. Even if bitcoin may not increase further for now. It would be a good idea for people to still continue to DCA. I do not know about other people but I myself is believing in long term speculation and price increase, that bitcoin will hit over $100000 after the next bull market. Which means bull market would still be the overall result after long term holding.
With price now at the 2021-2022 previous 18-month long support level around $30K, as highlighted, where do you think price will go next?
Is it finally time for a correction back towards the lows, or a continued relief rally towards $50K? Similar to $25K, this is a level where many speculators believe price might be strongly rejected, because the previous strong support level could well turn into new resistance. There is otherwise the argument that above this level Bitcoin is confirming a U-shaped recovery, with a target of up to 80% to the upside.
Is it finally time for a correction back towards the lows, or a continued relief rally towards $50K? Similar to $25K, this is a level where many speculators believe price might be strongly rejected, because the previous strong support level could well turn into new resistance. There is otherwise the argument that above this level Bitcoin is confirming a U-shaped recovery, with a target of up to 80% to the upside.
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