Topic: Bitcoin - a short pullback or a long-term bottom? (Read 513 times)

I saw you a bit pretentious, yes $ 6500 resistance level but $ 10,000 also resistance level. Do not ignore this, Bitcoin is approaching $ 10,000 and crazy sales will come, same thing last week.

It's undoubtedly to confirm that btc's long-term bottom was concreted at $6500 area. I think that, btc is taking a short rest before challenging $10000 resistance. Let's count down from now on guys. I do think that it's not later than 48 hours for btc to surpass $10k. Just wait and keep patience!

It is obviously a noob question to ask who would buy Bitcoin at nearly 9k, when it was 6k one or two weeks back, because you're a witness to the fact that a huge number of people had paid almost 20k for same in January. Just know that with such potential as Bitcoin parades and with the increase in awareness, the demand would continue to sour and the price invariably.

Dear friend,
Do have free time to see the bitcoin price at this moment? For technical analysis, btc price has climbed to 40-day high above $9300 since March 13. It's obviously to be seen that btc price shall test $10k resistance at the end of this week or even sooner.  
For one of the fundamental analysis,  please visit this thread: https://bitcointalksearch.org/topic/lightnings-bitcoin-mainnet-the-phenomenal-growth-3382329
Best regards

I don't have clear answer to this question. But if I trust my logic and feelings I think it "was" bottom. I first thought current small bullish move as bull trap and I guess I am proven wrong. Markets feel lot more secure..

Dear sir,
Thank you for your meaningful comment. I totally agree with you. However, I would like you to make just one thing to be more clearly. As you know, there are some similarities between true traders stated by you in this thread and those described as newbies and unexperienced ones. Since this difference has not been clearly found elsewhere it is probably not due to gambling. And, as you also know that, because of the volatility of the crypto market, trading bots have become increasingly fashionable among traders by allowing them to keep controlling of their trading status at all times, with the bot stays awake even while the trader is sleeping. Therefore, what is the difference between true traders- as you said and the bots?
"we may not yet be in a big ass bull market but the bear market is for sure over.". Please visit my thread if your don't mind: https://bitcointalksearch.org/topic/bitcoin-trump-cryptocurrency-daily-news-3198593

Best regards

I was not meaning to be funny.  It's only what I think.  And it's really dangerous to think that the only way is up so lots of folk rush in like last time and lose their money. 

I have read such reviews many times. It's not funny anymore. You can further dream about the price of 6K dollars. Six months from now, you'll regret it. The price will be 30K dollars. Many users still regret that they did not buy it in 2011-2016. With this mindset, you need to leave the bitcoin community. Earn Fiat. There is always stable inflation.

I think this is a temporary rise and it will fall back again because the volume is very low.  Why would people buy at nearly 9k when the price a week or two ago was 6k. 

unreasonable fear is not something that a true trader has. the fear that you are talking about is what the newbies have who think they are trading but in reality they are gambling.

a true trader has uncertainty and he always has it, it ever goes away. at times like the bottom when price was still around $6800 and was struggling or even when it jumped to $7900-$8000 things were still uncertain but since the ~$8000 held on pretty nicely and also because it went higher afterwards that uncertainty is no longer an issue. the rise is here now.
we may not yet be in a big ass bull market but the bear market is for sure over.

Dear mate,

For your doubts, a probable explanation is that these frequent suspicions are the results of too long dumping of bitcoin. Although the recent soar of bitcoin and crytocurrencies did not erase traders’ fear, these results should be taken into our consideration. Ensuring appropriate rise, supporting news for Bitcoin, to some extent, should be a priority for the time to come.
If you still do not believe the price of bitcoin has been on the upswing, feel free to visit my thread: https://bitcointalksearch.org/topic/bitcoin-trump-cryptocurrency-daily-news-3198593

Best regards

Bitcoin will comback. I belevie it

The crypto money market is having a difficult time and in a market that will overcome these difficulties their position will be very different in the investors who can be counted as early as us. I think, bull season has not yet begun, but it might be approaching.

I generally agree with your opinion. As you said above, you are a smart trader, aren't you? So, if you don't mind, I would like to ask you some questions:
1. How long have you traded btc or some altcoins? Did you buy btc at $3.500 and NEO at $18 like me and took profit at $10k?
2. Have you ever used bots, software or something like that to trade or trading with your fingers and brain only? If you guy are confident enough to be a smart trader, can you leave here/ share us some analysis of btc price in the near future: fundamental and technical ones for us to view?

Thank you in advance!

I disagree with you. The number of investors may not change but the price of bitcoin will decrease. There are whales that have a lot of coins. Periodically they sell their coins in large quantities. Small investors can not buy so many coins because of the lack of money. In this case, the price of bitcoin decreases and the number of investors remains the same.

It is depends of bitcoin price movement in the market. Less of investors to avail bitcoin the result btc decrease. The more btc investors the result btc price increase. The short fullback and the long term in the bottom is depends on btc investors whichever the season.

Well. it's too early to confirm anything at the meantime and it's useless to find some fundamental reasons to explain ourselves. I agree with you that the gap is too big to bridge it. However, it's better to look at the present and follow the whales. According to Turtlebc.com, the buying demand for bitcoin has reached the highest level since March 2017. You can view the data here: https://www.turtlebc.com/tools/buy_percentage?period=2years

Bitcoin is a standard, classic venture investment and nothing else. There are no other options here.

Bitcoin is getting ready for a decision at the resistance line that has rejected it multiple times.
it will rally to $9000 hopefully when it clear the $8600 resistance.
Hoping for more good news to come then we can confirm this big movement from bitcoin.

I feel the next three four days are crucial with this respect. If we keep seeing this phenomenal rise in the price of Bitcoin, then we can expect it to at least reach till the 12,000$ mark if not 20,000$. I am very bullish on the whole and I had been waiting for this time anxiously.

Rest we all know how uncertain this market is. If price can increase by 23% in a day, it can also come down by 50% in the next day. So, I would be carefully optimistic right now.

First off, it is worth noting that prices in any financial market never continues indefinitely in any one direction, but continually reflect the net effect of the pressures of demand and supply. So for price to have made double bottom around the $6500, it's an indication that a strong support is forming at that level and a rally in view.    Should price bounce off that level again, it would likely be the ride we have been waiting for.

blah blah blah

another topic of speculation all based on a daily movement of less than 10%

guys when will you learn. the price is never going to be a stable 0.03% rise a day..
it will never be a stable/guarantee double your investment in a year.
some people who are smart can double their income in weeks. and some emotional investors may lose... get used to it

it always going to go up and down
just enjoy you can make more then 1% a day if your smart enough

just stop caring, viewing, thinking about the ATH(all time high). all that matters is the low. and you will notice that the yearly low is on a increase since 2009
stop hoping for another one time spike. because when it actually happen 99% of people wont have fast enough fingers to take advantage of it and then when it corrects to a low. you just sat there waiting for the next ATH spike and hope your online fast enough.. (which most never are)

so just stop screaming "bitcoin is less than half the value of ATH".. instead say bitcoin is $2k higher than the LOW of 6 months ago

..
smart traders dont care about ATH
smart traders dont speculate years ahead
smart traders dont trade once a year hoping to double their funds. by having the luck of being online the exact second a ATH spike occurs
smart traders take their 1% a day and cumilatively it all adds up to a more secure profit

Have you ever seen Great Wall in China? Don't worry guy, the $8500 resistance is just a barrier, not a wall. The Great Wall is $9.999,99 resistance. Traders and short-term investors shall take quick profit after buying at supported area. It's the psychological resistance also and, of course, btc shall need supporting news to persuasively overcome it.

I think the $18,000+ ATH of last year was a freak show, because it was not anything like the peaks that we has seen in the

previous pumps. I doubt if we are going to see the same breakout as we saw in 2017. The gap between the lowest point and

the ATH of last year is just too big to recover in this year. The drop was just too big and too quick and a lot of people got

burnt.  

I have some good news for you to take into your consideration:
1. Saxo Bank has just published “quarterly outlook” which predicted a bull market starting in the middle of the second quarter
2. Pantera Capital- Blockchain released the first in a three-part research series on Bitcoin trading habits, and pointed out that 58% of the total Btc supply changed the owners in the past year. The market shall be moving to the fourth cycle of holding coins and to be ready for fresh price highs.
3. The Fundstrat Global Advisors cofounder, Mr Tom Lee, said a month ago that Btc has been oversold and kept predicting a $25,000 price by late 2018.

The recent rise in prices could also be due to the selling pressure decreasing due to tax season getting over. Also if we pump above $10k than we could very likely enter the bull cycle again and leave the bear phase behind us. Lets hope this isn't a bull trap and Bitcoin market is entering a bull period.

Bitcoin stayed at $6k for a while which was strongest level which if broken would have caused the real panic situation in the market. But bitcoin successfully survived that level even under the excessive selling pressure. After this recovery, I don't expect Bitcoin to go in bear phase again. Maybe a single dump cycle might take place before another uptrend. But is unlikely to go below $7k. Market has gotten the required momentum and is likely to continue in upward direction for quite some time now.

The $6k double bottom IMO has somewhat helped the traders fuel up and stock in as many bitcoins as they can in the mean time. After a series of bearish stints, starting from the Gox trustee crashing the market hard up to the tax day, right now it seems that the bulls are in power again (I hope). We clearly are poking the $8500 resistance level right now but still there are no signs of possible breakout from the said level, though there aren't any hints of any bearish movement in the market as well so we might be good.

Hello everyone, lately we see that the decline in the price has passed and the price rises. My opinion is that in the near future bitcoin will grow in price

Yes, Strong pullback obviously after a long bearish market. Bitcoin has broken its $8200 wall and seems like set to towards big stage. Still continued positives and right now up to $8500 position. Chance a bigger move up hence I'll keep my eye on this. Would love to hear big positive news in the meantime in order to see more action on price.

Looking at many aspects, Bitcoin is in its infancy. Bitcoin costs $ 400 (about $ 8.5 million). You can withdraw money from ATM Bitcoin. More and more companies are accepting Bitcoin payments, and you can use Bitcoin to deposit or donate. In Norway, a man who spent $ 27 to buy Bitcoin 4 years ago became a millionaire.
But the fun seems to be dying. This virtual currency has survived as the US government increasingly tried to control it. In the context of the increasingly bitcoin world, and when the federal government was watching Bitcoin.

I hope that definitely that this is a new uptrend and only will only have a short retracement. Although we are not so sure about this one.

As far as I concern, it's not a fluctuation as you thought. Let's see the under chart and "busted falling wedge pattern" which happened 2 months ago



I pointed it out a month ago, here: https://bitcointalksearch.org/topic/bitcoin-trump-cryptocurrency-daily-news-3198593

Please feel free to have a short view.

Volatility is like breathing in any asset market. The example given by the author of the topic is just one of many breaths and exhalations of bitcoin. This a normal process.

I don't see the point. Haven't you heard about the word fluctuation due to some external factors affecting its growth? Bitcoin is not on a short pull back nor declining. It is just fluctuating which is normal.

It’s not difficult to point out bullish signals basing on technical analysis and it is becoming self-fulfilling prophecies as many traders have got wind of their predictions. Luckily, attitude of the industry has appreciably enhanced after good news of G. Soros has been preparing to invest in the industry appeared
Although U.S bond yields are increasing in renewed prospects of tightening in 2018, U.S Dollar demand remains supported because of mostly hawkish FOMC remarks and optimistic data. Furthermore, Bitcoin price has been supported by prolonging geopolitical risks and long-term needs of cryptocurrencies. If the bullish pressure of BTC is strong and long enough, we can see a stronger rally for btc in middle of  May
As all of you can see at the moment, BTC has just overcome short-term resistance level at $8.500. A continued bullish momentum could test $10k in middle of May or even sooner. 

at first when the rises started 8 days ago i thought it may be just a bull trap or a temporary rise to test the waters and see how things go, or maybe some whales trying to cash out and make some profit but ever since the initial big rise we have had a big buy support shaping up and a lot of the investors are coming back and price is still rising so this seems to be the start of the bull market to me.
and if i am right this would be very interesting because this bear market lasted a very short time.

The low is not a pull-back nor a long rerm bottom. Its a correction. And this does not happen only once in the history of bitcoin but every year around the 1st quarter, bitcoin always has coerection. The market is slowly rising and its no surprise because we have already strengthened our support. All of those weak hands already sold their share when bitcoin decreased, adding up to the fall of bitcoin price.

Well, I highly appreciate your opinion. We are just Nemo fishes and have beliefs in Bitcoin in the future ourselves. Whales have left us with 75% losses from $20k area. We don't know for sure whether they shall come back or not. However, we have our own advantages - perpetual beliefs in bright future of BTC and cryptocurrencies.  
I am still holding and investing on BTC,  NEO,  LTC,  EOS,  Waves and some tokens also.
Hopefully that we are right

I see bitcoin and alts value is not bumping just to say it is recovering from the shit dump by the various government and corporate pulls mate. This time price recovering shows the every day symbol on that mate.

Yesterday I have noticed little dump on all the cryptos but with in some hours price started recovering I really feel happy bro.
Before this year ends we will find the bitcoin price goes to 20k USD for sure.

we are already outside of the declining channel and have entered the rising one. it is not rising  fast and every day now because it is switching from the fully formed bear market into a bull market. and this process needs some time to fully take place.

although trends can change at any time, but for now every sign points to a bull market in the near future starting with a slower rise to $10000 first.

He also said that we not only need to maintained $8000, but we need to test and overcome the next mental barrier that is around $8500-$8600. Currently we are still on track to hit on in the next couple of days if the trend continues.


Obviously we have (double) bottom at $6500 that's why we have some sort of recovery around $8+++.  So it this price is not sustainable then expect another pullback, however its seems that the bullish sentiment has started to build up so another critical week to see if the pattern will continue and sustainable and test $8++ levels.

I think it's still early to tell. according to Tone Vays we need to hang around the 8,000$ area for a week. and then see what happens, maybe after that we'll get some clear bullish signals. I am optimistic over all, but we need to be careful with times like this

there is no eternal growth and this must be understood! there will always be a correction! the bijecto and all the coins will always go up, and then down! and this will happen all the time! so do not be afraid of falling, it should be used for earnings! now it's very good to invest in bitcoin, because the price is very sweet!

To me a lot of the depreciation is due to the negativity surrounding bitcoin woth regards to a lot of companies and institutions completely blocking out bitcoin or cryptocurrency in their domain. Also while I do not believe that whales have a corrdinated effort I think that their presence is also a burden to the decentralization scheme of bitcoin. However I’m still investing on bitcoin for the long term and still committed to do so just because I believe in it

I also think like that bitcoin has touched its lowest point and now it's time to climb back up higher and it's starting to walk towards the top.

After 5 months of heavy selling pressure, Bitcoin and altcoins have signaled to a bullish momentum pattern to buy. The recent low of roughly $6,500 comprised a 75% loss in value from last year’s highs of approximately $20,000. Currently, as with many other cryptocurrencies market, it finds as though the next move for BTC will likely be either more bullish momentum towards the 23.6% retracement area and even $10.000, or a declining pattern to retest the descending trendline that BTC recently overcame.

I believe that bitcoin and many blue-chips have completely bottomed out and have been confirmed both by hedge funds independently and technical analysis tools. What do you think?