Bearish movement on the way? - page 3.

OROBTC

legendary

Activity: 2828

Merit: 1792

Quote from: proudhon on June 08, 2021, 11:14:51 AM

Quote from: ipanks on June 08, 2021, 11:14:09 AM

Quote from: proudhon on June 08, 2021, 10:12:06 AM

We've literally been in the bearish movement for weeks. The bull market is over, and there will never be a recovery. This is THE bear market.

If that so, prepare for the other lower price. You can buy many bitcoin this time so you need to make sure you are ready with your wanting price and place it right now before the price is down. Maybe you can set a much lower price to buy bitcoin and do not buy at once because we do not know how deep the price will down.
I am sure there will be a time for the price to recover, which can happen this year or next year.

I don't want to buy bitcoin. Bitcoin is dead.

Gold. Physical gold only, stored under your personal control, backed by lead and lead projection devices.

Merited for relentlessness.

proudhon

legendary

Activity: 2184

Merit: 1294

Quote from: ipanks on June 08, 2021, 11:14:09 AM

Quote from: proudhon on June 08, 2021, 10:12:06 AM

We've literally been in the bearish movement for weeks. The bull market is over, and there will never be a recovery. This is THE bear market.

If that so, prepare for the other lower price. You can buy many bitcoin this time so you need to make sure you are ready with your wanting price and place it right now before the price is down. Maybe you can set a much lower price to buy bitcoin and do not buy at once because we do not know how deep the price will down.
I am sure there will be a time for the price to recover, which can happen this year or next year.

I don't want to buy bitcoin. Bitcoin is dead.

ipanks

hero member

Activity: 1610

Merit: 507

Quote from: proudhon on June 08, 2021, 10:12:06 AM

We've literally been in the bearish movement for weeks. The bull market is over, and there will never be a recovery. This is THE bear market.

If that so, prepare for the other lower price. You can buy many bitcoin this time so you need to make sure you are ready with your wanting price and place it right now before the price is down. Maybe you can set a much lower price to buy bitcoin and do not buy at once because we do not know how deep the price will down.
I am sure there will be a time for the price to recover, which can happen this year or next year.

Wexnident

hero member

Activity: 2506

Merit: 628

I don't take loans, ask for sig if I ever do.

It's not really a dump-ish pattern, more like just a correction period instead. Granted that a small dump here and there due to FUDS happening isn't unlikely, it isn't the main reason as to why the price went down from $50k. Besides, realistically speaking, the only thing supporting BTC up on $40-$50k above was the hype, the travel that it went from $10k or so to $40k in around 4,5 months. The correction was bound to happen sooner or later. It's like seeing something standing atop of a visibly feeble foundation, which, however, stands on a sturdy one. So if it falls it won't go down completely.

janggernaut

legendary

Activity: 2366

Merit: 1130

Quote from: proudhon on June 08, 2021, 10:12:06 AM

We've literally been in the bearish movement for weeks. The bull market is over, and there will never be a recovery. This is THE bear market.

Bull market isn't over if you looking the chart from this early year until now. We are still up more than 100% from that, but if you are taking the chart from ATH which was $64,xxx surely we already on bear market right now. Depends from you, you can sell your btc right now and wait until it reached the bottom or just HODL amd buy every dip as much as you can

proudhon

legendary

Activity: 2184

Merit: 1294

We've literally been in the bearish movement for weeks. The bull market is over, and there will never be a recovery. This is THE bear market.

buwaytress

legendary

Activity: 2758

Merit: 3408

Join the world-leading crypto sportsbook NOW!

So if this is the 2018 run come early, then we can see another super rally in three years, which is 2024? Sounds like the cycle aligning closely to the halving for sure. Bring it on, laddies.

Quote from: davis196 on June 08, 2021, 07:10:03 AM

Something created panic selling on the market,and the lack of buyers caused the price to go down.

Or maybe just more people selling than buying, like a normal reason for a market to go down. If you weren't able to hoard at opportune prices, then your prayers have been answered.

We should all be pleased!

davis196

hero member

Activity: 2912

Merit: 900

Something created panic selling on the market,and the lack of buyers caused the price to go down.
There aren't many bullish signals on the market lately,so every bearish signal creates insecurity and pressure,among the traders that have weak hands.It doesn't matter how insignificant the bearish signal is.
I don't believe that the news about the seized Bitcoins from the Colonial ransomware hackers created panic on the market,but it seems that this news have some impact over the Bitcoin price.

btc_angela

hero member

Activity: 2590

Merit: 542

Seems that the price has fallen to $32k right now. I was thinking that it was due to the news that DoJ has somewhat break or seized the bitcoin that has been paid to the Colonial Pipeline hackers that's why the sudden free fall again.

In any case, before this we are already in the bearish trend, but we don't need to panic or worry. Again, this might just be a big test for us, so just HODL, we are not losing any if we are not going to sell.

passwordnow

hero member

Activity: 2856

Merit: 570

Leading Crypto Sports Betting & Casino Platform

Quote from: PercT4b on June 07, 2021, 06:13:17 AM

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

Don't worry. If you've been on the market and witnessed the 2018 bearish run, this time it's a better run that you shouldn't worry about. The 2018 bear market was totally low compare to what we have. There's only around 50% of the total drop from the last ATH that we've met unlike on 2018, it's more than that. And the price was too low compare today. We're already familiarize with the market but if you're long term, you don't have to worry with all of it.

maydna

hero member

Activity: 2870

Merit: 556

Quote from: PercT4b on June 07, 2021, 06:13:17 AM

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

The history will repeat, but with a different scenario. The bear and the bull will always come back to the market, but the situation will be different than before. Perhaps, what you saw in 2018 can happen again this year or next year, but the difference is bitcoin price will not be at the same price.

Perhaps, the pattern will be almost the same, and you can think that the thing will happen again. But I am not sure if the following situation will be the same as before, we really don't know, but we can predict and speculate for that. If you are not sure, it is better not to enter the market and watch the price movement to know when you can enter the market later.

OgNasty

donator

Activity: 4718

Merit: 4218

Leading Crypto Sports Betting & Casino Platform

Bitcoin needs a wall of worry in order to climb the price. One thing we were missing was bears and it seems like we are now starting to collect a few of those. Once more people are bullish and putting in shorts we might be able to squeeze them and see a rocket to the moon. With countries accepting it now, $200K is really just a matter of time.

MusaMohamed

sr. member

Activity: 826

Merit: 266

Quote from: pooya87 on June 07, 2021, 11:59:11 PM

If it were bearish then price should have fallen down below $30k by now instead of testing the bottom over an over again while setting higher lows and keep going back towards $40k testing the resistance again.

Also comparing this with 2018 is naive. 2018 was the product of a gigantic bubble that had to burst and lead to a very long bear market as the last step of the 4 year cycle. While this low price is just the product a large scale FUD campaign attacking bitcoin to push its price down despite the bull market.

Bitcoin did not go main stream in 2017 and 2018 but it did in 2020 and 2021. It will continue with this trend and naturally it will not stop.

FUD campaigns are used with bull market to give corrections opportunities to appear. People will have to familiarize with FUD campaign if they are Bitcoin investors. Lastly the four year cycle would be 2021 not 2020 and it has passed only half of 2021.

pooya87

legendary

Activity: 3402

Merit: 10424

If it were bearish then price should have fallen down below $30k by now instead of testing the bottom over an over again while setting higher lows and keep going back towards $40k testing the resistance again.

Also comparing this with 2018 is naive. 2018 was the product of a gigantic bubble that had to burst and lead to a very long bear market as the last step of the 4 year cycle. While this low price is just the product a large scale FUD campaign attacking bitcoin to push its price down despite the bull market.

Yaunfitda

hero member

Activity: 2814

Merit: 574

Quote from: PercT4b on June 07, 2021, 06:13:17 AM

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

Well, it's not just you that are worried, too early to see the bearish sign, but let's just be optimistic and hope that in the next quarter or two, the price will somewhat recover and hit a new all time high.

Quote from: PercT4b on June 07, 2021, 06:13:17 AM

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

Yes, everything here is interesting because the market is fairly young and we will see a lot of similar patterns. But it doesn't mean it will hold true though. Again, we have a long way to go till the end of the year to gauge if we really in bear market or not.

Hamphser

sr. member

Activity: 2436

Merit: 324

Quote from: PercT4b on June 07, 2021, 06:13:17 AM

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

Take your own action basing up with your own analysis because not all people would really be following on someones calls even though analysis is really showing it because majority does know that there no such thing about precise prediction.

If you do look some patterns which would be the same on that 2018-2020 bearish market then do things on what you do seem right but of course
it wont really be precise no matter what.

Securing your position or selling out while its early before bearish market comes or would simply just be ignored.

SaShiRaJaVu

hero member

Activity: 1694

Merit: 541

Quote from: PercT4b on June 07, 2021, 06:13:17 AM

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

We do not have a lot of history to check whether these formation will give you the same results, in short the data available is not that great to plot these patters and make a conclusive study. I can very well tell that this time around there are a huge number of institutional investors who were pumping money for a long time and the market depends upon how they are going to view the market, if they are once again investing heavily then the market will rally if not if they plan on booking their profit then what you said will be true.

MusaMohamed

sr. member

Activity: 826

Merit: 266

Quote from: PercT4b on June 07, 2021, 06:13:17 AM

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

Look at the bigger picture with weekly candles. The bull trend will not be broken even if the price falls to $20,000. I am not calling for $20,000 but it is possible bottom of Bitcoin in this correction. Several months after May 2021, Bitcoin can make us surprised with its new all time high.

If history of 2018 repeats in 2021, Bitcoin can drop to $20,000.

Quote from: Ararbermas on June 07, 2021, 10:21:53 AM

Alot of people here always make a comparison of bitcoin history when market struggling wherein they're always looking for an issue just to have a topic and to gain opinion from others even though despite they are not really sure about it as well.
No offence mate but it's hard to understand that bitcoin now had a good improvement since 2018 so how comes it will repeat history? Just imagine almost 3 years and it will repeat the history, even we say it's possible to happen why 2018? I'm wondering.

It can be compared with 2013 bull run with double tops. I don't see similarity of 2017 bull run and 2021 bull run.

Ararbermas

sr. member

Activity: 1988

Merit: 283

Alot of people here always make a comparison of bitcoin history when market struggling wherein they're always looking for an issue just to have a topic and to gain opinion from others even though despite they are not really sure about it as well.
No offence mate but it's hard to understand that bitcoin now had a good improvement since 2018 so how comes it will repeat history? Just imagine almost 3 years and it will repeat the history, even we say it's possible to happen why 2018? I'm wondering.

palle11

sr. member

Activity: 2310

Merit: 332

Quote from: xSkylarx on June 07, 2021, 07:37:20 AM

Miners and institutions still accumulate and haven't sold yet so what really caused this sell-off bothers me.

With the different dynamic of the current market compared to 2018 drop, these two category of investors are what would make the difference because they believe in the technology of blockchain but the little investors are those setting up sell orders because of fear. Usually, fear is what causes further drop in price. The price has been hanging at $35,000 and $36,000 but if further bear begins to happen, that will be because of fear for waiting for bull which isn't coming up as quick as expected. Again, Elon musk has caused more bear to the market with his tweet that caused great drop in price of bitcoin.

Topic: Bearish movement on the way? - page 3. (Read 468 times)