Bitcoin's chilling at 85k now. Monthly chart shows some serious bearish vibes with those two massive engulfing candles... check it out below 👇
Will Bitcoin Hit $100k Before Dropping? Let's Discuss
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I see your point. But honestly, I’m skeptical about it hitting that level again this year. Maybe it drops to around 70k instead.
cobra_bullNewbie
Posts: 55 · Reputation: 19
#3Dec 23, 2023, 09:04 PM
Not a pro here but Bitcoin seems to always rally after hitting support. Could see a retest of the ATH 100k isn't a huge barrier since we had 126k as the previous peak.
That zone you mentioned could be a low-volume area from earlier in the year. If it reacts there, it might just be a final pump before the drop. Sellers still seem to have the upper hand.
True, the odds are always 50-50. I might not buy the 100k prediction, but I do think Bitcoin will test that 50 Weekly MA nearby. If it does, I'm shorting hard.
kev1nhodlerNewbie
Posts: 5 · Reputation: 28
#6Dec 24, 2023, 06:45 AM
Right now, Bitcoin's on a downtrend. It’s dropped over 30% since hitting that ATH. I think we might see it drop even more because sellers are still dominating.
chris.viperMember
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#7Dec 24, 2023, 09:24 AM
Yeah, we usually gotta wait for the dust to settle before it climbs back up. The FUD around MicroStrategy and BlackRock is making things worse.
maxi_matrixNewbie
Posts: 160 · Reputation: 11
#8Dec 24, 2023, 01:55 PM
Good call on waiting. DCA while it dips sounds solid. Think it’ll hit 70k? That’d be a huge drop but a sweet entry for buyers.
Anything can happen in crypto. A big news event could flip the market. But right now, I see it holding around 84k and maybe pushing towards 90k.
Doubt it’ll break 100k easily. There’s heavy resistance waiting just below. Some models predict it might linger between 80-90k for a while.
Your analysis isn’t far off. A reset might be needed here. Many are wondering how low it might actually go.
Interesting thoughts. But do these analyses even matter right now? The market feels directionless, especially with whales pulling strings.
hash_orbitMember
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#13Dec 25, 2023, 05:41 AM
I think it’ll definitely retrace to at least 95-100k before we see a full bear market. Let's keep some cash on hand for when it dips.
bridge2016Newbie
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#14Dec 25, 2023, 09:35 AM
Bitcoin's at a monthly support level that could push it towards 100k, despite the bearish sentiment. If it breaks 84k, we might see lows around 69k.
nick.orbitFull Member
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#15Dec 25, 2023, 12:45 PM
I’m not sold on that prediction for the near term. It’ll be tough if selling continues. Patience is key for buyers right now!
ben.matrixNewbie
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#16Dec 25, 2023, 01:35 PM
Hitting 100k is possible since Bitcoin thrives on speculation. After the next halving, we could see a bull peak, and this drop should correct itself eventually.