Topic: Will Bitcoin Correct to $6,500? (Read 1003 times)
And now, don't we see BTC going down to $ 6500 as you predicted? And how did you deal with this situation? Keep waiting, have decided to invest with it? Your predictions are baseless, without any information or analysis to convince people here of your predictions.
Price might go down bit further but $6,500 is bit scary to even imagine as mid level investors and begginers will incur huge loss if this happens as they might sell off in panic, wherein smart investors will wait for the value to reach rock bottom to reinvest as it's always someone's loss and someone else's gain. Anything is possible in next 3 month.
Undoubtedly, the situation in the cryptocurrency market can dramatically change in a short time due to certain news in the information space or due to the actions of speculators or other players in the cryptocurrency market. We have witnessed a decline in prices for the highest rated cryptocurrencies much lower than $ 6,500, just like when Bitcoin prices rose to $ 20,000. But I can’t understand, How do certain cryptocurrency users confirm a price reduction to $ 6,500 in the near future? There are no prerequisites for this and there are no exact facts that would confirm such changes.to panic and start to react in the wrong way. better to take your own path and start trying to figure it out with your own analysis, the idea of keep
holding and try to buy more once the value fell that hard while keeping those coins then wait for another bounce will work and bring better benefits.
Price might go down bit further but $6,500 is bit scary to even imagine as mid level investors and begginers will incur huge loss if this happens as they might sell off in panic, wherein smart investors will wait for the value to reach rock bottom to reinvest as it's always someone's loss and someone else's gain. Anything is possible in next 3 month.
Undoubtedly, the situation in the cryptocurrency market can dramatically change in a short time due to certain news in the information space or due to the actions of speculators or other players in the cryptocurrency market. We have witnessed a decline in prices for the highest rated cryptocurrencies much lower than $ 6,500, just like when Bitcoin prices rose to $ 20,000. But I can’t understand, How do certain cryptocurrency users confirm a price reduction to $ 6,500 in the near future? There are no prerequisites for this and there are no exact facts that would confirm such changes. 
Price might go down bit further but $6,500 is bit scary to even imagine as mid level investors and begginers will incur huge loss if this happens as they might sell off in panic, wherein smart investors will wait for the value to reach rock bottom to reinvest as it's always someone's loss and someone else's gain. Anything is possible in next 3 month.
I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
Because 1. History is fond of repeating itself. 2. It appears BTC has been over bought and what follows is a steep price fall as the stale market prices will cause many to liquidate a major portion of their assets - this goes for mostly speculators; when the price doesn't go above 11-12k region.
I agree if the bitcoin prices will be failing to test $11k to $12k levels then definitely it will come back but it is too early to expect it to test those regions. I mean to say we must give some more time for market to accommodate and then to continue its rally. I believe those levels like $6500 may not be seen forever within bitcoin markets. Yes, those price levels must have gone forever and we are going to test new ATH in coming months.
I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
Because 1. History is fond of repeating itself. 2. It appears BTC has been over bought and what follows is a steep price fall as the stale market prices will cause many to liquidate a major portion of their assets - this goes for mostly speculators; when the price doesn't go above 11-12k region.
I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
$6500 would be a massive dump. By no chance I think bitcoins would go such down to below $7000. The maximum dump I can expect is $8500 and then again bitcoins would start rising. There would be a dump before we could test another resistance. Testing the resistance is not getting much difficult for bitcoins as already we saw bitcoins crossing 10k.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
May not be an immediate dump. We're talking 6-7 months from now. And it appears the chart may begin to look something in that direction already. Best case, the dump may stretch out till the end of the year.
I guess I need to correct you here. If there is bad/negative news than bullish bearish trend would continue. The markets would not completely depend on the news as there already are thousands of news platforms which are actively sharing negative as well as positive news so the media has itself balanced itself.
I really do not think that the bitcoin market moves according to the media trends, there was a time when the market moved like that but not anymore in my opinion but if there is a huge movement of coins then they market usually goes down fearing someone is planning to dump the coins.The market will have a slight correction every time we reach the resistance point but not expecting a huge dump to $6500 at once, even if it happens it will be a gradual move.
I think it wouldn't go down that much, Already a correction has been begun but current strong support level is 9100$ so in my perspective it may break 9500 level and after breaking 9500 bull will play action again. Always do your own research I only shared my perspective.
$6500 would be a massive dump. By no chance I think bitcoins would go such down to below $7000. The maximum dump I can expect is $8500 and then again bitcoins would start rising. There would be a dump before we could test another resistance. Testing the resistance is not getting much difficult for bitcoins as already we saw bitcoins crossing 10k.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
May not be an immediate dump. We're talking 6-7 months from now. And it appears the chart may begin to look something in that direction already. Best case, the dump may stretch out till the end of the year.
$6500 would be a massive dump. By no chance I think bitcoins would go such down to below $7000. The maximum dump I can expect is $8500 and then again bitcoins would start rising. There would be a dump before we could test another resistance. Testing the resistance is not getting much difficult for bitcoins as already we saw bitcoins crossing 10k.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
do not know yet, whether to go to $ 6500 or not, all depends on the situation of the market now, if there is bad news then the bullish trend will end, always use risk management
I guess I need to correct you here. If there is bad/negative news than Now, everything which we could depend upon is the price correction. The current resistant has been crossed but bitcoins continued downgrading after testing the resistant which might predict us that there would be some initial price dump which might be a point to buy coins. Of course, if would not be such excess as OP stated as there is strong support at various levels like 9500, 9000, etc which would never make the price break to 6500.
do not know yet, whether to go to $ 6500 or not, all depends on the situation of the market now, if there is bad news then the bullish trend will end, always use risk management
bad news and good news are always present in the market, the effect depends on the gravity of the news, if the good news is bigger then the bull run will continue. Don't underestimate the crypto market as it has survive a lot of bad news and reach this good price, one of the big bad news in the past was "china banning bitcoin" IIRC , and there was a FUD but eventually bitcoin recover, rise and make a new ATH.
Right now bitcoin is not at the correction stage, not yet anyway. Right now we are trying again to break over $10k and we try that multiple times in the recent weeks and we will continue to do so for a long time as well. The reality is the fact that we can't just let go of the gas pedal for now because we are too deep into this bull run and it can't end when it is not even going anywhere proper just yet.
We reached from $7k levels to $10k levels and that is amazing, that is not bad at all, however in the history of bitcoin increases that is something doable, we literally went from $3.5k to $13.8k last year on a bull run, that was a proper bull run, this is more like a good hype. So, we need to reach to levels like $14k or more in order to start going down again.
We reached from $7k levels to $10k levels and that is amazing, that is not bad at all, however in the history of bitcoin increases that is something doable, we literally went from $3.5k to $13.8k last year on a bull run, that was a proper bull run, this is more like a good hype. So, we need to reach to levels like $14k or more in order to start going down again.
do not know yet, whether to go to $ 6500 or not, all depends on the situation of the market now, if there is bad news then the bullish trend will end, always use risk management
If you're not sure what's going to happen, then the right move would probably to hedge your bets. Can't decide between USDT and BTC? Then probably put 50% on each instead. Even if we're a few months away from the halving, prices are still not guaranteed to rise so act accordingly.
Good advice.
As for 6000-6500 happening.
Well
415 dec-2015
447 jan-2016
379 feb-2016............................ feb-2020 about 95-100 days before ½ ing
419-mar-2016
421-apr-2016 95-100 days before 2016 ½ ing
452-may-2016
577-june-2016
647-jul-2016
587 8/11/2016
605
640
714
767
785 jan-2017
1008 feb-2017
we look okay based on past preformance.
Not sure that the past ½ is the same as this one so hedging is okay.
Good reference, only if derivative contracts were available back then, it would have been easier to have that fundamental play in the price action. Now, there are too many factors, interest parties and rapid blockchain intake, it may beat previous expectations. But no one truly knows for sure.
No, because it already did that. It's not just gonna go back to the price is already tested.
Devil's advocate: Go back to 2015. The market tested the $220 area twice (in April and June) before running into the $300s to form a structural higher high. Then it unexpectedly crashed to $200 before recovering and then truly entering a bull market.
So going back to retest the bottom is possible. Is it likely? Maybe not.
My experience is the "we need one more test of the bottom" crowd usually misses out on big moves because they always wait for a perfect entry that rarely comes.
No, because it already did that. It's not just gonna go back to the price is already tested. If there's a correction it'll be higher than that. Just like in late 2019 it didn't go back to 3000s, it went to 6500. 6500 was testing following a long term (6 month) downtrend, that price is gone now.
did it really disappear? obviously we don't know yet, because if the price of Bitcoin shows a bearish trend, I am very worried that all support will be passed, which is the most frightening, hope Strong support is at $ 7,500
No not at all, but it might stay more time under 10k who know but to drop so low no.
No, because it already did that. It's not just gonna go back to the price is already tested. If there's a correction it'll be higher than that. Just like in late 2019 it didn't go back to 3000s, it went to 6500. 6500 was testing following a long term (6 month) downtrend, that price is gone now.
did it really disappear? obviously we don't know yet, because if the price of Bitcoin shows a bearish trend, I am very worried that all support will be passed, which is the most frightening, hope Strong support is at $ 7,500 
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
Are you wishing that to happen or are you wishing the opposite, it's ok to have fear for a dump but when the bull run is happening right before your very eyes it's time to support and, the market is dynamic and very volatile so if you are investing only invest what you can afford to lose or always prepare for the eventualities.
No, because it already did that. It's not just gonna go back to the price is already tested. If there's a correction it'll be higher than that. Just like in late 2019 it didn't go back to 3000s, it went to 6500. 6500 was testing following a long term (6 month) downtrend, that price is gone now.
There is a possibility it will go down to $6500 especially after halving because of some corrections so if you are afraid to lose if the happens then you are free to sell now and get profits but please know that bitcoin price has a potential bull price that may range from $10,000-$15,000 so might as well leave a portion of you bitcoin for the possible bull run.
well maybe it could happen like that but I think for this year it's hard to get back to low prices again because there will be a halving day that will make bitcoin prices expensive because it will be harder to get bitcoin and more difficult to get bitcoin, if conditions occur like this then at least have to be able to prepare bitcoin with a very large number to be able to enjoy profit when halving occurs. Seeing $6.5K again would suggest distribution was occurring over the past couple months. That would be pretty bearish. I wouldn't expect $6.5K to hold. The next stop would probably be the 200-week MA, currently ~$5,300.
Interesting perspective that I hadn't considered re distribution if we fell to $6.5K. While I find it unlikely, I would expect this level to hold strong again, if we get rejected at current levels that is.I guess what I'm getting at is this: Going back to the $6Ks would (at best) represent a situation like August 2015, where a downside rejection could spring us into a new bull market. At worst, the support wouldn't hold at all.
My expectations are more bullish that that. Q1-early Q2 2016 would be a closer parallel to what I'm anticipating. Dropping to the $6Ks again would really throw that picture into question.
If we make this macro higher high above $10K level to say $11-12K, then would agree that dropping to $6.5K would be very bearish.
Yeah, that would be particularly bearish.
There is a possibility it will go down to $6500 especially after halving because of some corrections so if you are afraid to lose if the happens then you are free to sell now and get profits but please know that bitcoin price has a potential bull price that may range from $10,000-$15,000 so might as well leave a portion of you bitcoin for the possible bull run.
To put it simply, this already happened, so less likely now than it was at $10K before when there were signs pointing to this amount of downside.
Now there is not the same signs pointing to $6.5K, maybe $7-8K, but just like $3.2K, I think $6.5K is unlikely to occur again.
Now there is not the same signs pointing to $6.5K, maybe $7-8K, but just like $3.2K, I think $6.5K is unlikely to occur again.
That's true. There was a huge bearish pressure from people who wanted to get quick gains after buying at 6 and 7k but once we go past 9k all of this is gone. Most traders who bought in the early stages of this bull run, back when we all thought that it's just another correction in the long bearish trend (like the run to 12k in August) have already taken profit and went back in, or simply left the market to enjoy the profit and wait for either another correction or a confirmation of the bull market that we may be witnessing right now.
To put it simply, this already happened, so less likely now than it was at $10K before when there were signs pointing to this amount of downside.
Now there is not the same signs pointing to $6.5K, maybe $7-8K, but just like $3.2K, I think $6.5K is unlikely to occur again.
Now there is not the same signs pointing to $6.5K, maybe $7-8K, but just like $3.2K, I think $6.5K is unlikely to occur again.
I would say anything below the $7,600s area (the 61.8% fib of the uptrend + daily pivot zone) is unlikely at this point. There's a good chance the market won't even fall below the 200-day MA. It's hard to deny the bullishness on the weekly and monthly time frames.
It's starting to worry me how I much I'm in agreement with you at the moment, I preferred it when you saw things differently to provide me with a different perspective
From a pattern perspective this also makes sense, by coming down to the 61.8 this would also look like a marco-sized reverse head & shoulders bullish pattern.
Seeing $6.5K again would suggest distribution was occurring over the past couple months. That would be pretty bearish. I wouldn't expect $6.5K to hold. The next stop would probably be the 200-week MA, currently ~$5,300.
Interesting perspective that I hadn't considered re distribution if we fell to $6.5K. While I find it unlikely, I would expect this level to hold strong again, if we get rejected at current levels that is. If we make this macro higher high above $10K level to say $11-12K, then would agree that dropping to $6.5K would be very bearish.
Reasoning being is by topping out and creating marco horizontal resistance, woud increcase the chances of creating macro horizontal support at $6.5K, as least in my mind. We saw these parallel channels after sell-offs in 2012 (shorter time-frame) as well as 2015 (for nearly a year), so although this doesn't need to happen, the chances of a parallel channel (accumulation at lows) would be more likely than continued downside in my opinion, given current market structure at least..
All theoretical obviously, looks like we're going to break through $10K anyway so much of this analysis won't be relevant
Even if it happens it will happen for a very very short time. You'll probably miss it because it will either happen when you are sleeping or when you don't have any money on the exchange. (unless you have a buy order sitting already)
$6.5k happened not so long ago and it is barely visible on the daily chart. Whales literally attacked that fcking dip. I don't think it is coming back.
$7.5k would be a more realistic target.
$6.5k happened not so long ago and it is barely visible on the daily chart. Whales literally attacked that fcking dip. I don't think it is coming back.
$7.5k would be a more realistic target.
"Correction" might also be $9,500 - $10,500, you should give some thought that the current rally is not ending yet.
Hashing power all-time high, the halving, and the return of the bulls will possibly take Bitcoin near $20,000 in my opinion. 50% correction will crash to $10,000.
Even if it happens it will happen for a very very short time. You'll probably miss it because it will either happen when you are sleeping or when you don't have any money on the exchange. (unless you have a buy order sitting already)
$6.5k happened not so long ago and it is barely visible on the daily chart. Whales literally attacked that fcking dip. I don't think it is coming back.
$7.5k would be a more realistic target.
$6.5k happened not so long ago and it is barely visible on the daily chart. Whales literally attacked that fcking dip. I don't think it is coming back.
$7.5k would be a more realistic target.
To put it simply, this already happened, so less likely now than it was at $10K before when there were signs pointing to this amount of downside.
Now there is not the same signs pointing to $6.5K, maybe $7-8K, but just like $3.2K, I think $6.5K is unlikely to occur again.
Now there is not the same signs pointing to $6.5K, maybe $7-8K, but just like $3.2K, I think $6.5K is unlikely to occur again.
I would say anything below the $7,600s area (the 61.8% fib of the uptrend + daily pivot zone) is unlikely at this point. There's a good chance the market won't even fall below the 200-day MA. It's hard to deny the bullishness on the weekly and monthly time frames.
Seeing $6.5K again would suggest distribution was occurring over the past couple months. That would be pretty bearish. I wouldn't expect $6.5K to hold. The next stop would probably be the 200-week MA, currently ~$5,300.
To put it simply, this already happened, so less likely now than it was at $10K before when there were signs pointing to this amount of downside.
Now there is not the same signs pointing to $6.5K, maybe $7-8K, but just like $3.2K, I think $6.5K is unlikely to occur again.
Now there is not the same signs pointing to $6.5K, maybe $7-8K, but just like $3.2K, I think $6.5K is unlikely to occur again.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
It's not good to give a price or prediction without a chart to back your claims or else you are just creating confusion, even if we can freely post our own analysis it should at least have a reason why it should go that way, in your case you did not give any, it's just a feeling that will be ignored.
If that were to happen it would mean there is a huge bear run going on and that would really cripple the bitcoin economy a lot.
We are on the verge of bitcoin halving, which means that miners would mine half the amount of bitcoins they were mining until today, even with difficulty dropping and the transactions getting more expensive etc, that would still mean that miners will not make as much revenue as they used to, that requires price to go up in order to cover the difference but even a break even point would be good for them to get over that hump.
If the price falls down to $6.5k that would mean not only they are making less revenue, they are also working for less money than they used to as well and might result with them stopping their machines and the blockchain to be clogged constantly.
We are on the verge of bitcoin halving, which means that miners would mine half the amount of bitcoins they were mining until today, even with difficulty dropping and the transactions getting more expensive etc, that would still mean that miners will not make as much revenue as they used to, that requires price to go up in order to cover the difference but even a break even point would be good for them to get over that hump.
If the price falls down to $6.5k that would mean not only they are making less revenue, they are also working for less money than they used to as well and might result with them stopping their machines and the blockchain to be clogged constantly.
Any thoughts?
Anything is possible in crypto world so I would say that Bitcoin go down to 6500 is still possible. This is a game of probabilities and not certainties so the chances of this to happen is around 1-5% only. There are many indicators telling that we are in a bull run already and the momentum is shifting already from downwards to upwards indicating a bullish run. MACD is above 0 right now and the RSI is at the middle (in daily chart).
Take note that most of the investors right now are bullish on Bitcoin because of the halving that is happening in less than 100 days.
I know someone that believes it will go to $1200 at end of next year. At same time that many others predict it will go over $100.000.
Some are saying that coronavirus if spread wider can cause recession. If we get hit by huge recession right now price of Bitcoin can go way way under $6500.
Some are saying that coronavirus if spread wider can cause recession. If we get hit by huge recession right now price of Bitcoin can go way way under $6500.
$1200 at the end of next year? That doesn't seem realistic to me, then most people expect a new ATH, and I do not know what should happen to BTC drop so low. I personally think this will never happen again, but never say never when it comes to BTC. On the other hand, I think the $100k price is pretty realistic in the next 2 years, it is just x10 from current price.
I do not believe that this virus will take that long, they say that the peak is expected in the next ten days, and then the situation should start to calm down. Most of the world is already in recession, or what is actually called a technical recession. Growth rates are just above 0, and situations like this only exacerbate the global economy even more. The great recession may have a positive effect on BTC, but we can only find out if it happens - will BTC become a safe haven, or will it sink with most markets?
P.S. OP you didn't actually mention since when you've been to and fro-ing from USDT and BTC. How much have you made/lost? I never play that game, learnt my lesson a long time ago pre-Bitcoin, and only occassionally make altbuys with BTC when I feel like I could do with a spot of gambling (gasp I know trading isn't gambling, but isn't it? ).
Those voices in your head? That's your human instinct. Remember, the markets are irrational because of millions of heads with voices in them.
).Those voices in your head? That's your human instinct. Remember, the markets are irrational because of millions of heads with voices in them.
$6,000 correction is not a correction, but a big drop that cannot sustain the bitcoin's value. Maybe dropping to $8,000 is possible but not $6,000.
Ill advice to not sell yours as it can pump its way up to $10,000 easily.
Ill advice to not sell yours as it can pump its way up to $10,000 easily.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
The situation now is quite difficult for the price of bitcoin to adjust to $ 6k5. When bitcoin falls in that price range, it is like an opportunity to get rich soonest. But the whales won't let you do this because you've hesitated. On the chart over the past 2 months, there have been 3 times that the price of bitcoin has reached $ 6k5 and bounced very high. That shows that the whales predicted a glorious 2020 of bitcoin because of the halving event. Bitcoin is currently at $ 9k1 and it is still very cheap, besides it has broken out important price points such as $ 7k7, $ 8k6. so we can believe that the high possibility of bitcoin's price increases over time. Any thoughts?
The deep pullback is already happen so we only expect that there will be a shallow pullback so it is impossible to say right now that the price will reset at $6500. There are now major support but if the major support broken it is only indicating that the uptrend is now finished. The price is continuing to consolidate above $9000. If it is continue then it is the proof that the market is healthy and the uptrend will continue more.
Many of your posts are "either/or". They were "either/or" when Bitcoin was $3,500, $6,500, and still "either/or" currently. A sign that the having might NOT be priced in yet.
Buy the dip, and HODL, full steam ahead!
Buy the dip, and HODL, full steam ahead!
Nobody can tell really. I think that if we DO NOT close above $10300 then we will most likely retest the $6K area again, however if we close above $10300 on the weekly charts then most likely it will be a while until we see $6500.
We are at a critical junction, basically if we break the $10300 area it would be a higher high and this would be confirmation of many that we are again in a bitcoin bull market. And with the halving not too far off, it could mean that FOMO will start soon after because people are going to be expecting the ATH of $20K to get breached.
So just use the charts as your guide, right now there are too many people who are long and open interest is very high so its possible we might get a quick retrace at least to $8500 or so. Maybe even head lower.
We are at a critical junction, basically if we break the $10300 area it would be a higher high and this would be confirmation of many that we are again in a bitcoin bull market. And with the halving not too far off, it could mean that FOMO will start soon after because people are going to be expecting the ATH of $20K to get breached.
So just use the charts as your guide, right now there are too many people who are long and open interest is very high so its possible we might get a quick retrace at least to $8500 or so. Maybe even head lower.
I don't know why suddenly people are talking about dump nowadays where everyone expected Bitcoin at 10K USD. The way Bitcoin price increased for the past few weeks, I though BTC price may hit 10K USD within the first week of February, but my thoughts were wrong! Now, I saw many dumping alert! It may happen, but I don't think 6500 USD will happen again, rather I think Bitcoin price will go 8K USD to 7500, not lower than that.
They are talking about dump because many of them might have probably miss the trend and they are trying to great fud so that market value of Bitcoin could decrease to enable them to buy at a cheaper rate pending the expected price skyrocket during the coming halving in May this year.The thing is, if we reach based on the sudden price movement, that is not good, bitcoin will rise and dump but we should be looking at the overall performance and its performance this year is good so far.
I don't know why suddenly people are talking about dump nowadays where everyone expected Bitcoin at 10K USD. The way Bitcoin price increased for the past few weeks, I though BTC price may hit 10K USD within the first week of February, but my thoughts were wrong! Now, I saw many dumping alert! It may happen, but I don't think 6500 USD will happen again, rather I think Bitcoin price will go 8K USD to 7500, not lower than that.
They are talking about dump because many of them might have probably miss the trend and they are trying to great fud so that market value of Bitcoin could decrease to enable them to buy at a cheaper rate pending the expected price skyrocket during the coming halving in May this year. I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
It was noticeable how the market trend goes on. You are just thinking negatively that brought you to become worried in the coming days. Though we can't neglect such thing to happen but as we can see nowadays, the price is moving high and not because it was played by whales nor a hypes it itself but it is just because people are pushing into it. The sideways can be unpredictable and yet can't be avoided but if we are prepared for it and never been bothered for the dumps and think to sell, it for sure there is no need to worry so much. Any thoughts?
But the sad reality is that most people will get shaken with the saw the market is in red and selling our Bitcoin is not the right way to help it recover. Holding is the way we can do it avoid losses.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
The pump continues to bitcoin and we didn’t see major correction so far so I think $6k level is not the support level anymore, maybe the price will correct on $8k level. The up trend looks stronger now as we challenge the wall on $10k, though we failed on it but I believe it can be hit this month and hoping that correction will happen on a much higher price. Any thoughts?
I think even though the correction occurred but to return to $6,500 it will not likely happen because I think it is a correction that is too deep, if a large increase that might occur later then a large correction will not occur and it looks like this year's bottom value will not be below 7k. We don't know for sure the next sentiment will be higher because this year's trend can be said that the market is getting a more positive trend so I'm more confident about the resistance that will continue.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
It's very hard to predict price, it may really dump or will be stable/continue rise. Chances there are really 50/50 because when we saw rise from 9k to 13k, that was a huge positive psychological factor but you know what happened, price went down dramatically. Despite the fact that there is upcoming halving, it doesn't guarantee that price will remain high until that (who knows what will happen after that but I am hugely positive that it will rise after halving). Any thoughts?
Idk what to suggest, personally I would hold it for a while to see what happens, if it goes down to 8500 and lower, then I would sell it. Otherwise maybe worth to see whether price will reach 10K or not (+ today max price was up to 9400 usd).
I don't know why suddenly people are talking about dump nowadays where everyone expected Bitcoin at 10K USD. The way Bitcoin price increased for the past few weeks, I though BTC price may hit 10K USD within the first week of February, but my thoughts were wrong! Now, I saw many dumping alert! It may happen, but I don't think 6500 USD will happen again, rather I think Bitcoin price will go 8K USD to 7500, not lower than that.
Not really, I don't even think that Bitcoin's price will down under $ 8000 especially in this period, but probably we are not going to see unexpected developments in this month ( big dip or pump).
Furthermore, it depends on the next decisions of the whales, they are the only ones who know what's going to happen in the market, as a normal traders we have nothing to do, just watching and expecting a good news.
Furthermore, it depends on the next decisions of the whales, they are the only ones who know what's going to happen in the market, as a normal traders we have nothing to do, just watching and expecting a good news.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
And this same method may equally dashe your hope too because the current price of Bitcoin might be the bottom for this period if care is not taken dude. You need not to be too optimistic about this market.Any thoughts?
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
I have the same feelings. The market looks like it has stabilized and is beginning to accelerate to the new bull run, but it's hard for me to believe that there will be no big dump before halving. I think that level $6500 is still very much possible. It would not be a big surprise for me if by mid-year the price dropped even to $5000 for a while. For a long-term investment, it is better not to risk exit to the USDT, but if someone play short-term, should be very vigilant in the coming weeks.
Will Bitcoin Correct to $6,500?
I know someone that believes it will go to $1200 at end of next year. At same time that many others predict it will go over $100.000.
Some are saying that coronavirus if spread wider can cause recession. If we get hit by huge recession right now price of Bitcoin can go way way under $6500.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
I'm not sure the price of Bitcoin will fall to $6500 again, if in the next few days bitcoin has decreased it's part of the correction.Any thoughts?
I know the lowest bitcoin support at the price of $5900 but I'm not sure that can be achieved, even I'm more sure if the price of bitcoin will soon reach $10,300 this month.
first of all lets get one thing straight, going from $9500 down to $6500 is not called a "correction" that is called a big market crash since it is more than 30% drop.
now that the terminology is corrected we can discuss it better. a crash of this magnitude during a time where price is already on the rise and market is ready for it too is not possible out of nowhere and for no reason. we need some massive FUD and a large market wide panic for the market to crash that hard!
not to mention that we already have multiple strong buy supports (barriers) that would prevent such a crash at $9k, $8.5k and biggest of all $8k.
now that the terminology is corrected we can discuss it better. a crash of this magnitude during a time where price is already on the rise and market is ready for it too is not possible out of nowhere and for no reason. we need some massive FUD and a large market wide panic for the market to crash that hard!
not to mention that we already have multiple strong buy supports (barriers) that would prevent such a crash at $9k, $8.5k and biggest of all $8k.
@pooya87 that’s an eagle eyed observation and I’ll admit that I too would have missed correcting him, and now moving on I don’t expect bitcoin prices to crash because of the global uncertainty that we’re witnessing around us. Though I’m expecting small fluctuations in bitcoin prices, and when that happens one should buy on the dibs because bitcoin prices may once again shoot up due to growing fear of Coronavirus.
https://edition.cnn.com/2020/02/01/investing/bitcoin-prices-coronavirus/index.html
https://www.forbes.com/sites/billybambrough/2020/02/03/coronavirus-fears-could-see-bitcoin-explode-in-value-as-china-markets-plummet/
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
I follow one big trader on Twitter and most of the times, his predictions are spot on. He posted a tweet yesterday warning his followers that huge dump is coming this week. However, I don't like to believe others and most of the times I do my own research but this time I think he's right. But $6500 is too low. If we remain anywhere above the mark of $8700, we can sustain this dump. The price will cross $10K this month for sure. We will see $10000 earlier than $6500, believe me.
Believe me the price of bitcoin will not correct to the price of $ 6500 it really must be because bitcoin is pretty good at the current price, so only $ 9k is a good correction. See the movement on the chart.
In February is a good key where bitcoin has started to increase. $ 10k will become a target this month and make bitcoin a real recovery.
In February is a good key where bitcoin has started to increase. $ 10k will become a target this month and make bitcoin a real recovery.
I don't think so. Correction is something that is under 10%, which means with a $9600 price at the peak of this month, we can say that the correction could be at most 900 dollars or so, which comes down to $8.7k price rate and that's fine, if we stay above $8.7k I would keep calling it a correction as long as we are higher, however as soon as we start to go further down that is not a correction anymore.
The price of $6.5k suggest that wouldn't be a correction, it would literally be a bear run and it would mean the price is bottoming out. Look at the prices in the past 1 year, we haven't touched $6.5k price for a long long time now and not frequently in the past 1 year neither, so that would be a super bear run that would reach a new all time low for the past 300 days or so.
The price of $6.5k suggest that wouldn't be a correction, it would literally be a bear run and it would mean the price is bottoming out. Look at the prices in the past 1 year, we haven't touched $6.5k price for a long long time now and not frequently in the past 1 year neither, so that would be a super bear run that would reach a new all time low for the past 300 days or so.
Bitcoin is a very volatile asset in the context of its price. The rise or fall of the price of bitcoin is influenced by demand and supply on the exchange and it will forever apply. I have no doubt that bitcoin also has the potential to fall to touch the price of $6000, but at least I am sure that will not happen in the near future.
The hard thing about trading is controlling your emotions and doubts about the price of the traded asset. Without careful analysis and planning, that feeling will make us more afraid of loss, but I think this is something that is often experienced by traders in general.
The hard thing about trading is controlling your emotions and doubts about the price of the traded asset. Without careful analysis and planning, that feeling will make us more afraid of loss, but I think this is something that is often experienced by traders in general.
It can happen but I don't really want to be pessimistic when there is an event that is going to happen.
It is not going to be a correction but a full of people dumping their bitcoin with the same thought as you.
You are not alone who want to sell their bitcoin.
Some long term traders there might be getting ready to do that.
I hope not.
If there is a lot of profit for a large of number of people who are trading then I bet it will be one full wave of a dump.
It is not going to be a correction but a full of people dumping their bitcoin with the same thought as you.
You are not alone who want to sell their bitcoin.
Some long term traders there might be getting ready to do that.
I hope not.
If there is a lot of profit for a large of number of people who are trading then I bet it will be one full wave of a dump.
thats what your instincs say so better you follow that but its not also bad to have a high hopes . that only means that you are an optimistic person which is good when compare to person that does not hope too much because it only shows that they are weak or not have an ambition on thier life . to the original question if bitcoin will correct ? id say yes btc always correct but i hate to say it will correct on the said price.
There is a possibility but if ever the price will be corrected to $6,500, that won't be that much of a problem because it will again increase within a period of time simply because that is the nature of the market volatility, so there's really nothing to worry about.
Also that would be a good opportunity for investors to engage into investing to bitcoin. If you are not new in this industry, you would get my point. Only the new ones do panic the most whenever the market price is falling. As a holder, I do tend to compare the present market price from its price in the past to lessen the stress backdrops is giving.
In such way, i am confident still for the 'comeback'. It is just a matter of investor's mindset. But for now, calm down, as we wohld observe the behavior of the market price of Bitcoin, things are going well.
Also that would be a good opportunity for investors to engage into investing to bitcoin. If you are not new in this industry, you would get my point. Only the new ones do panic the most whenever the market price is falling. As a holder, I do tend to compare the present market price from its price in the past to lessen the stress backdrops is giving.
In such way, i am confident still for the 'comeback'. It is just a matter of investor's mindset. But for now, calm down, as we wohld observe the behavior of the market price of Bitcoin, things are going well.
Any thoughts?
The current situation is very unpredictable, just last month we had a price of $6500, and I think the trend can be reversed in both directions with. I may be wrong, but halving is still 3.5 months away, and I think there will be at least 2-3 more significant falls in that period, but by that I mean drop up to $1000.
It should be borne in mind that it is impossible to predict any bad news involving exchange hacks, or that someone decides to dump a big number of BTC at once. I wonder if those who intended to buy as much BTC at a lower price are happy with the quantities they have, or they will try to manipulate the market while it is still possible (in an easy way).
OP, if you have that voice in your head, maybe you need to react before it's too late. After all, it's about your money.
As a general rule: when a support level keeps getting hammered, it's probably going to fail. If the market returns to $6,500 again, it's probably going much lower, possibly into the $5,000s to the 200-week MA.
Fortunately I don't think we'll see $6,500 again. My contention is the market is experiencing downward pressure on the daily time frame, but strong upward pressure on the weekly and monthly time frames. The higher time frames will win out in the end.
These are areas of interest if the bottom falls out of this current sideways:
Fortunately I don't think we'll see $6,500 again. My contention is the market is experiencing downward pressure on the daily time frame, but strong upward pressure on the weekly and monthly time frames. The higher time frames will win out in the end.
These are areas of interest if the bottom falls out of this current sideways:
To me a drop to $6500 isn't really that far... From $9k to $6k, sure its a considerable drop but would you be happy to sell now and have it go to $15k? You're going to have to work out where you'd buyback if we swing up? (potentislly around the 11k area) and what if you still have these thoughts then? Are you going to risk holding everything to have to buy back at 15k or 20k? (if we make it thst far).
Traders with experience never sell ALL, there always stay a possibility, especially with crypto, that the price will continue to drop or to raise. When the maximum or bottom will be easy to seen then they will sell or buy, depends on the target they, traders, follow. I do not know how bitcoin will behave itself in coming days and I am not sure about any "psychological" numbers as well. I am ready for everything.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
The chances for a dump this year is very slim. As you can see the investors were so hyped because of the Bitcoin halving that are trying to accumulate as much as they can. The past 2 halving's outcome has become the trend up to this very moment, while Bitcoin is gradually crawling back to a 5 digit figure. Absolutely no obvious sign of a dump.
If it happens to dump down to that level, then that's still good for accumulation.
Agree with that since in every halving we can see the price always goes up as per charts below shows.
So better we should bare more confidence since the next halving round is nearly coming and since all past rounds gets a good result so there's no question for this year's month that we can see another good sets of pumps until the price reach for another ATH or maybe closest to the past ATH.
I really think we should need the confidence in trusting Bitcoin more because this is what has always bitcoin does, the correction is pretty normal, but a sudden flickering down movement of Bitcoin will surely cause a few waves of panic from weak holders, I know this is what OP is thinking right now because the movement upward had turned to a downward slope but as you have said the halving is near and that trust in that even can certainly make a go to another ATH.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
The chances for a dump this year is very slim. As you can see the investors were so hyped because of the Bitcoin halving that are trying to accumulate as much as they can. The past 2 halving's outcome has become the trend up to this very moment, while Bitcoin is gradually crawling back to a 5 digit figure. Absolutely no obvious sign of a dump.
If it happens to dump down to that level, then that's still good for accumulation.
Agree with that since in every halving we can see the price always goes up as per charts below shows.
So better we should bare more confidence since the next halving round is nearly coming and since all past rounds gets a good result so there's no question for this year's month that we can see another good sets of pumps until the price reach for another ATH or maybe closest to the past ATH.
I don't think that bitcoin has a chance to fall to 6500. Judging by the current trend, I can say that in the near future the price will gradually increase.
I also think that the price would gradually increase in the long term, but it definitely has a chance to drop to 6500. I mean, the floor of the bull market of 2017 was around $3000; what is 6500? 6500 isn't that far off. I wouldn't even be surprised to be honest.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
YES! Buy the dip and HODL. Don't trade, just HODL all the coins you have in store now, and get more fiat to buy more.
It's time to be inspired/motivated to get a job, or a second job, to invest in something that maybe, MAYBE, will go to 6 digits within 5 years.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
The chances for a dump this year is very slim. As you can see the investors were so hyped because of the Bitcoin halving that are trying to accumulate as much as they can. The past 2 halving's outcome has become the trend up to this very moment, while Bitcoin is gradually crawling back to a 5 digit figure. Absolutely no obvious sign of a dump.
If it happens to dump down to that level, then that's still good for accumulation.
I don't think that bitcoin has a chance to fall to 6500. Judging by the current trend, I can say that in the near future the price will gradually increase.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
If you are afraid for another dip to come then maybe hodling is not best for you since you will get stress out when certain red days comes and I suggest that you should do a day trades since by this you can monitor your profits and capitals. But if you can afford to risk anything then hodling game is good for you since remember we have halving and this events are good times for crypto so it's up to you if you want to risk or not but remember all hodlers earn more money before compare those people who dump earlier.
If you ain't sure then wisely pick to balance the situation and give yourself some peace of mind.
first of all lets get one thing straight, going from $9500 down to $6500 is not called a "correction" that is called a big market crash since it is more than 30% drop.
now that the terminology is corrected we can discuss it better. a crash of this magnitude during a time where price is already on the rise and market is ready for it too is not possible out of nowhere and for no reason. we need some massive FUD and a large market wide panic for the market to crash that hard!
not to mention that we already have multiple strong buy supports (barriers) that would prevent such a crash at $9k, $8.5k and biggest of all $8k.
now that the terminology is corrected we can discuss it better. a crash of this magnitude during a time where price is already on the rise and market is ready for it too is not possible out of nowhere and for no reason. we need some massive FUD and a large market wide panic for the market to crash that hard!
not to mention that we already have multiple strong buy supports (barriers) that would prevent such a crash at $9k, $8.5k and biggest of all $8k.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
If you are afraid for another dip to come then maybe hodling is not best for you since you will get stress out when certain red days comes and I suggest that you should do a day trades since by this you can monitor your profits and capitals. But if you can afford to risk anything then hodling game is good for you since remember we have halving and this events are good times for crypto so it's up to you if you want to risk or not but remember all hodlers earn more money before compare those people who dump earlier.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
so that is only based on your instinct?is that what you mean here?if does then better check also the speculation section in which mostly in Wall Observer thread.Any thoughts?
https://bitcointalksearch.org/topic/wall-observer-btcusd-bitcoin-price-movement-tracking-discussion-178336
there check the posts given by those crypto experts and don't just automatically believe in your mind.
There is still possibility that it will drop by that amount but not maybe before halving. I remember buying some bitcoin when the price reached around 6k and I will choose to buy more again if the price will reach that amount again. It's good to expect and put high hopes that price will continue to increase but know that there is always a tendency for the amount to alter in this very volatile market. Jusf watch the market and take advantage of the time that the price may declined to buy again or simply wait till you get your desired profit.
Of course there's a possibility to see the price hitting $6k ceiling again as we all know that in a blink of an eye, this market can go on a downward spiral. Yeah, you better try hedging 50/50 and see how it goes for you.
We all don't want to get disappointed, we wanted to see the price hitting 5 digits again, but if you're not that comfortable and feeling a bit nervous about it, the best thing to do is to leverage. Best of luck to your decision.
There is still possibility that it will drop by that amount but not maybe before halving. I remember buying some bitcoin when the price reached around 6k and I will choose to buy more again if the price will reach that amount again. It's good to expect and put high hopes that price will continue to increase but know that there is always a tendency for the amount to alter in this very volatile market. Jusf watch the market and take advantage of the time that the price may declined to buy again or simply wait till you get your desired profit.
6.5k? Even if it does go down that far, signs would most probably appear beforehand, enabling you to act accordingly after that. There isn't really a need to sell right now.
But if your more on the safe side, wanting to maximize the current profit you could take, sell your coins. If you want to maximize your profit no matter what, there are two choices. One, do daily trading, take advantages of pumps and dumps and profit daily. Two, long term investment, but the profits made there are still quite unclear yet.
OPs problem is more of a need of something to push you through in making a decision, but since you've started thinking of a possible drop, better sell it than regret it.
But if your more on the safe side, wanting to maximize the current profit you could take, sell your coins. If you want to maximize your profit no matter what, there are two choices. One, do daily trading, take advantages of pumps and dumps and profit daily. Two, long term investment, but the profits made there are still quite unclear yet.
OPs problem is more of a need of something to push you through in making a decision, but since you've started thinking of a possible drop, better sell it than regret it.
OP, what were you doing when bitcoin was recently at $6600? Were you buying then? It sounds like you're starting to get a little bit of fear of missing out mixed with a little fear of losing money.
Yes, bitcoin could drop back down to $6500 or any other price you could come up with in your head. However, from all indications it seems like there's been a lot of buying lately and the overall mood is pretty good, so I would expect any drop to be temporary. As long as you're not investing money that you're going to need for expenses, I'd say keep your funds in bitcoin rather than USDT. If the price goes higher than where it is now, you'll be wishing you did just that.
Yes, bitcoin could drop back down to $6500 or any other price you could come up with in your head. However, from all indications it seems like there's been a lot of buying lately and the overall mood is pretty good, so I would expect any drop to be temporary. As long as you're not investing money that you're going to need for expenses, I'd say keep your funds in bitcoin rather than USDT. If the price goes higher than where it is now, you'll be wishing you did just that.
If you're not sure what's going to happen, then the right move would probably to hedge your bets. Can't decide between USDT and BTC? Then probably put 50% on each instead. Even if we're a few months away from the halving, prices are still not guaranteed to rise so act accordingly.
Good advice.
As for 6000-6500 happening.
Well
415 dec-2015
447 jan-2016
379 feb-2016............................ feb-2020 about 95-100 days before ½ ing
419-mar-2016
421-apr-2016 95-100 days before 2016 ½ ing
452-may-2016
577-june-2016
647-jul-2016
587 8/11/2016
605
640
714
767
785 jan-2017
1008 feb-2017
we look okay based on past preformance.
Not sure that the past ½ is the same as this one so hedging is okay.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
From current price of $9,200 down to $6,500? That's roughly 29% difference. If that happens I don't think we can call that correction but someone or a group dumped heavily to cause panic and buy more at lower price. if its correction, maybe a 10% to 13% drop from current price is possible. Try using stop loss to protect your investment in case a heavy dump happens and you are not in-front of your PC. Any thoughts?
If you're not sure what's going to happen, then the right move would probably to hedge your bets. Can't decide between USDT and BTC? Then probably put 50% on each instead. Even if we're a few months away from the halving, prices are still not guaranteed to rise so act accordingly.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
According to me after reaching and breaking 9000 BTC becomes the stronger and the resistance of 9000 become the huge support of bitcoin so this is not easy to break now but let's see what happens. Any thoughts?
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
If the price is around $8000-$8500 today, then probably, chances are we might re-test $6000'ish. However, the $9000 support level looks very solid and the moment it will goes down a few %, someone is buying it up and put the price into perfect equilibrium.
So I'm not seeing $6500, unless there's some massive FUD around causing people to panic and newbies buying the FUD and pushing the sell button immediately. We might be indeed entering a bullish cycle as early as January already in preparation for the eventual halving in May.
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
reaching the $6000s again looks unlikely to me. there was a weekly double bottom there, and also a monthly dragonfly doji---an indication of bullish reversal. https://commodity.com/technical-analysis/dragonfly-doji/
based on just about any metric, the uptrend since mid-december is also significantly stronger than the bull traps from last july, august, and october. everything suggests a new bull market IMO. it's just that price doesn't go up in a straight line---there will be plenty of pullbacks along the way.
dropping to the $8000s and testing important levels like the 200dma is probable. i could even see a quick flush to the upper $7000s. but the $6000s are completely off the table IMO.
Don't loss that possibility in your mind but at the same time think of what good things could possibly happen based on the price are moving now.
Bitcoin was up significantly so far and thanks to the hype in the upcoming halving and since halving is still months away, I think bitcoin will still continue to soar and I would not think of its correction down to $6500 again.
when talking about correction, I guess we heavily experience that in the past years especially in 2018, so it's nice if bitcoin will not go down to that direction again so it could also help the whole market to slowly grow.
Bitcoin was up significantly so far and thanks to the hype in the upcoming halving and since halving is still months away, I think bitcoin will still continue to soar and I would not think of its correction down to $6500 again.
when talking about correction, I guess we heavily experience that in the past years especially in 2018, so it's nice if bitcoin will not go down to that direction again so it could also help the whole market to slowly grow.
If you trust your intuition then go ahead but I say that just be prepared for everything. Be prepared if the price pumps continually or if there's a slight dump in the next few days. But to be honest, everybody is expecting that we're not going that far anymore.
The price is kind of far from that price you're trying to look at. The halving is approaching and it's expected that we're increase more than 25% for the next few months because it was the increase last month.
The price is kind of far from that price you're trying to look at. The halving is approaching and it's expected that we're increase more than 25% for the next few months because it was the increase last month.
No, I think the value of Bitcoin would not dip too far into $6,500. Bitcoin's price would only struggle close to a $9000 value in the present, halving is coming so it is more possible for it to continue to increase as the day goes by. But, regardless of the current standing of Bitcoin in the present, all possibilities are feasible and we must always take extra care.
To me a drop to $6500 isn't really that far... From $9k to $6k, sure its a considerable drop but would you be happy to sell now and have it go to $15k? You're going to have to work out where you'd buyback if we swing up? (potentislly around the 11k area) and what if you still have these thoughts then? Are you going to risk holding everything to have to buy back at 15k or 20k? (if we make it thst far).
6500$ isn't that far but isn't that close either. Corrections are possible, even expected, but fall to 6500$ would be a rather significant so I don't think that will happen so soon. In the next correction that might follow in the next week or two I don't expect to see price lower than 7000$.
To me a drop to $6500 isn't really that far... From $9k to $6k, sure its a considerable drop but would you be happy to sell now and have it go to $15k? You're going to have to work out where you'd buyback if we swing up? (potentislly around the 11k area) and what if you still have these thoughts then? Are you going to risk holding everything to have to buy back at 15k or 20k? (if we make it thst far).
I've been in-between moving back to USDT and hodling my Bitcoin in the hopes it may reach the psychological price of $10,000. But this voice in my head that just won't go away says, a heavy dump to $6,500 is on the way. I just hate to get my hopes up high and then dashed again.
Any thoughts?
Any thoughts?
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