Honestly, I doubt the recent Bitcoin lows mark the bottom. I feel like we might see one more dip before we get a legit bounce. I've added some price targets from my technical analysis below.
The price of Bitcoin is unpredictable, considering that it is highly connected to the global economy. The tariff war between the US and its trading partners is really affecting the market. Immediately, Donald Trump announces a tarriff the market will react. However, it seems that the market is getting used to these unstable global economic outcomes. It is possible that the price will drop just as you predicted, but you could also be wrong.
This thread will be better in speculations board
https://bitcointalk.org/index.php?board=57.0
If you are trading, you will have to find market bottom or as best entries as possible. Because with best entries, you will have lower risk and better chance of getting profit.
An important note is, Trading is very difficult and finding market bottom or top is never easy with any trader, and most traders fail to find it accurately. No chance to succeed in predicting market bottom and top correctly time to time.
If you are investing, you don't need to join this headachish challenge. You can ignore it, and simply do DCA for your investment. Holding your bitcoin long term like some years, at least more than 4 or 5 years, and you will have a more easier task and more comfortable life than traders.
DCA and HODL are magic things to succeed and get profit in Bitcoin market.
https://hodl.camp/
https://www.bitcoinmagazinepro.com/charts/bitcoin-profitable-days/
Let us see if this will be correct. Bitcoin is still above $80000 which would be a good support. Also another support will be around $78000. There should be another support around $76000. Another one will still be above $74500.
Let us wait and see if what you predicted will be correct but I do not take speculation serious.
People can always DCA which has been a good investment strategy.
I would not consider predicting Bitcoin to drop down before the real bounce, it is not really looking visible but this is still speculative. Bitcoin right now only needs a little more trigger to hit the road running again to the 6 digits. A lot of positive news have come under the coin Bitcoin, so much from US which happens to be the biggest economy, capable of creating a real bull that will be unprecedented. Trump administration is supporting Bitcoin with making it a reserve of their currency. Few days back, a bill came up from South Carolina to make 10% of their finance hodl in bitcoin. Hoping for a drop from bitcoin this time around is still speculative.
Having followed Bitcoin's price movement very closely since when we broke out of $73k-$74k Previous ATH and its retracement back down to 76k, Bitcoin has two critical zones to have a significant bounce to the upside, and that's in the support zone of 73k and 67k, this is where I believe we should bottom out from this pullback, and this was the last point of break out to hitting the 108k ATH, previously hit last two months.
There is no single thought on where the local bottom would be before the price again begins to rise. Some people think that we already had the lows at 76XXX$ while other think we can go to 72000$. Some are even saying to test the 69K , meaning everyone has their own targets and no one knows where the local bottom would be.
The best approach here would be to buy on each bottom, so that you don't miss the buying opportunity in search of the ultimate bottom. Remember, when bitcoin again reaches an all-time high, it won't matter if you have both at 75K or 70K. What matters at that time would be that you have bought Bitcoin and are in the race.
66k is the bottom anything below that price is not going to be possible. Before now i have always thought about the current low not being the lowest we will see in the next few months. Before Bitcoin will create a new high again we should wait and see how low it will get. Providing every opportunity for those who are yet to invest to start investing. Also for the low coiners they can as well invest more if they have the required funds.
No one can tell accurately what will be the bottom price for bitcoin. We can only predict but we can never tell exactly how high or low its price will surge or drop. However, whatever the price will be, hodling is probably the safest strategy for now, selling wont make a good choice. Just dont forget to DCA as well regardless of the current price of bitcoin. We cannot benefit it for now but in the end, we will have the massive profits then.
Of course, speculations are just speculations and what really matters is how people responds to the trending situations at the time. In recent times, president Trump has been very influential in redirecting the views and decisions of people. Perhaps a tweet from him could make the speculations in the link count for nothing I dont advise that people invest based on tweets from popular figure though.
If Bitcoin goes down below $78k, it still wouldnt change much to those that are hodling with the exception for weak hands that would panic sell while, those that are buying will still actively buy. So, you just respond to the market in a way that appeals to your good judgement and hodl to befit from it.
In all these are all speculative assertions, the current price of Bitcoin is around the 80k to 89k zones of which it did had times where it stayed around the 70k and 79k zones, looking at how long it spent at the 70k to 79k zone, it feels like it will not be going to retest that soon any soon again considering the recent news around the crypto space but the anything can still happen as the speculations are never absolute but a share of everyone's taught based off their experience and analysis.
Well, personally if i am making a solid speculative analysis, i don't make conclusions based off only the technical analysis, because i know there are chances that some fundamentals may come and out paly the technicals such that they may disrupt our expectations and so its usually best to not depend solely on the technical alone but makes some considerations on the fundamentals as that may help give a better insight to your speculations and the possible out come to look out for.
Even traders are sometimes wrong with their predictions on the market, technical analysis or just saying is still unknown and not trustworthy till it happens. We witnessed Bitcoin roaming around $90K and believed $80K should be the last bottom of Bitcoin, just when we thought so, the price of Bitcoin went to $78K, this tells that despite our predictions, the market still maintains its own course to follow. If you want to invest, then don't forsake a quick action and start somewhere. DCA is advisable since we believe we are closer to certain bottoms and a massive fall after hitting our anticipated ATH of 2025.
At this point, Bitcoin has not yet enter the bearish season, we are still in the bull season and until we surpass this bull season an enter a typical bear market, nothing is certain yet. At this point, we could predict a dip but reverse can be the case. There's some speculation that we are going to reach $150k before the bear market will set in, personally I think that Bitcoin will get to $120k before next year.
That apparently is possible to come but in no assurance of it will and when it will happen.
The market has been so technical in this period of time to lay emphasis and be of 50% guaranteed on market price predictions.
Few days ago was really promising that we were going to see a $90,000 but still resisted.
I won't engage on arguing of what the bottom value maybe but I am must confidence that the price will rise again to the surge or breaking other Aths in a matter of time which my speculations states the good time will come somewhere around the 2025 unlike some speculations that says the bull run is over.
I do not think just because we are just above $80k, means that we are in the bearish season. No it's not, this is just another temporarily lapse in the market. Maybe we are in the overbought zone already in January when we are above $100k that's why there is a correction.
But still, there are a lot of things that is going to happen in the future, that might push the price and goes on another big rise just like the previous bull run. So for me, $150k or higher is still the price that we could reach in the last quarter of the year. So just continue to be patience and accumulate and be a holder at least for the end of this year.
Confidence should return to the broader market, but with how the stock market looks, I don't know when it will happen.. Probably through 2025, as you said. I do hope so, at least.
Then the liquidity would go toward crypto market too.
That's more like it because I don't agree with those that are saying we are still on the dip because this prices was not what we saw before the halving, so definitely a lot of overbought is happening on the market but however we still wonder if this overbought was suppose to start now because it should have been this serious when maybe the price has rising to $130k or more before it should be this strong because the prices is barely moving, just from two number or three and the next moment is back from were it began, however we hope there will not be much overbought this month.
While Bitcoins current price is not a bottom, Im not convinced it will make another low this year either, as Im more bullish on another price bounce, albeit not the biggest one this year. There are a lot of institutions and companies that are still excited about Bitcoin, so they could all be driving the price of Bitcoin if they continue to buy Bitcoin without fear. However, I expect Bitcoin to have some resistance in the $90K to $100K range again to have a slightly better bounce in the second half of this year.
I think you have shared your analysis in the video you made. But it doesn't hurt to share it directly with the post.
There is still a possibility that Bitcoin will not reach a lower price than the decline that has occurred. Some people speculate that the decline that occurs could be after the next price spike, not before the spike.
Bitcoin prices will still be difficult to predict now, the existing speculation is very optimistic that it can reach $ 120k this year. Stilll not sure whether the spike will occur before or after the price drop.
Determining the bottom is always the crucial part since you will only knew it after it was printed for the day. Im looking for the previous ATH as key prices for the support which is a good contender for the price bottom.
I usually set my DCA big order on strong supports which is the previous ATH instead of guessing whats the bottom since its very hard to predict that accurately.
You will just make your life miserable for determining the unknown while you can do DCA. For me the estimated bottom is around 60K which I place most of my DCA order.