Topic: Bitcoin Breaks Bullish Trend Line? (Read 361 times)

Quote from: jrrsparkles on May 22, 2022, 03:57:25 AM

Based on the chart above article[1] from coindesk stated that Bitcoin had broken the Bullish trend line.

Quote

Bitcoin's daily chart is leaning bearish ahead of U.S. April payrolls and wage-growth data that could influence market expectations about the pace of the Federal Reserve's monetary tightening.

But then after a week , Bitcoin price starts to dump and now still struggling to climb at least small from 30k but denied for week now lol.
I don't see anything that coming best in the near future or maybe this will happen till the end of 3rd quarter , meaning it can fall below 20k at some chances?
and also there are no sign of the bear stopping at any moment from now.

Kemarit

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Hold your nerves because I feel that bitcoin is breaking the 30K barrier multiple times and hard to hold the above line while its constantly touching 28K and jumping to mid 29K. So it means we are reaching the last quarter cycle and soon we may expect below 25k even too the level of 21K.

And this could be a bad sign for us, if it continue to do trade in a sideway patterns without forming any trend lines. But now it's obvious that we are in a bearish line, so most likely if this pattern breaks then it could for the worst and get to $25,000-$26,000 range. And if that happens, then others might quit crypto for good, weak hands selling because they don't like what they are seeing. So again, why not take this as a chance to buy affordable bitcoin, IMHO.

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Quote from: Silberman on May 25, 2022, 02:34:54 PM

I think those are levels that are going to be difficult to be reached even during this bear market, we will need another Luna crashing all the way to zero for such a scenario to happen, and while we could imagine different scenarios in which something like this would be possible the chances that we see back to back crashes like that seem to be on the low side to me, still it is important to remain vigilant and keep our eyes open in the case the price of bitcoin drops once again as we may have the opportunity to buy bitcoin for a price even cheaper than the current one.

This is crypto world and I wouldn't be shocked if we end up with something like that, those things happen all the time and we could have another crash or another bad news that makes it go down. Do I expect it to happen? Of course not, I am expecting it to go back up, and that is probably what we are going to have and that is the thing that we should be focusing on, how we could go back up.

Just because there is a possibility that it could go down some more if something major happens doesn't change that unless something unexpected happens we would be going up again. So, just focus on the fact that we could profit very soon and make your moves accordingly.

Captain Corporate

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It should have been going up already, the only reason why it hasn't is these people who are spreading FUD and thats a big problem. I personally believe that there is nothin to fear and there is no uncertainty at all. Price went down because of FED first, then Luna happened, all these are fine and it makes sense to go down during that period and thats fine. However, just because it dropped because of these, doesn't mean that it will stay down. Bullish trend is coming up soon, we all know it, there is nothing unexpected about it and the people who end up buying right now like me will end up profiting from it.

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Quote from: jrrsparkles on May 22, 2022, 03:57:25 AM

Hold your nerves because I feel that bitcoin is breaking the 30K barrier multiple times and hard to hold the above line while its constantly touching 28K and jumping to mid 29K. So it means we are reaching the last quarter cycle and soon we may expect below 25k even too the level of 21K.

I think those are levels that are going to be difficult to be reached even during this bear market, we will need another Luna crashing all the way to zero for such a scenario to happen, and while we could imagine different scenarios in which something like this would be possible the chances that we see back to back crashes like that seem to be on the low side to me, still it is important to remain vigilant and keep our eyes open in the case the price of bitcoin drops once again as we may have the opportunity to buy bitcoin for a price even cheaper than the current one.

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Quote from: jrrsparkles on May 22, 2022, 03:57:25 AM

Hold your nerves because I feel that bitcoin is breaking the 30K barrier multiple times and hard to hold the above line while its constantly touching 28K and jumping to mid 29K. So it means we are reaching the last quarter cycle and soon we may expect below 25k even too the level of 21K.

I'm not sure bitcoin can go down to the price of $ 21k this year let alone in the second qurtal. you are so sure that bitcoin can go down again to the lowest price of $ 21k but I can only believe the last low price is currently $ 28k and will continue to stay above it.

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Hold your nerves because I feel that bitcoin is breaking the 30K barrier multiple times and hard to hold the above line while its constantly touching 28K and jumping to mid 29K. So it means we are reaching the last quarter cycle and soon we may expect below 25k even too the level of 21K.

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Quote from: Jating on May 19, 2022, 08:52:20 AM

Quote from: Silberman on May 18, 2022, 03:16:14 PM

While we know that a recovery will happen at some point in the future, the problem for a great deal of people is how long this will take? Which unfortunately it is something that we do not know, meaning that if the recovery takes too long I will not be surprised if many people begin to sell their coins as they find other assets from which to make money or they simply leave this market while disappointed about what happened, delaying the recovery even further and forcing us to go through another crypto winter.

People are taking a great deal now that the market is on the 7th straight week at red candle (and it's a record if I'm not mistaken). So we should learn to accept this so that we will not be disappointed.

And yeah, this is the sign of a crypto winter and the recovery might take some time, what I mean is that we might see another dip in the next 4 months.

If I am not wrong something similar is happening to the stock markets so this is not something that is exclusively to this market, it seems to me that the FED increasing the interest rates may have had an impact and if to this we add the disaster that is Terra Luna this helps explains why we are seeing some correlation between the stock markets and bitcoin, however what it would take to break that correlation? That is difficult to know and it is possible we will have to wait until the next halving for this to happen again.

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Quote from: Silberman on May 18, 2022, 03:16:14 PM

Quote from: sana54210 on May 14, 2022, 04:48:15 PM

Quote from: cryptomaniac_xxx on May 13, 2022, 08:14:04 AM

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again. And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

I do not believe that anything that big will happen because of this situation. Sure, 20k could happen but then it will go back up, there are too many walls to break to get there as well, I mean billions of dollars.

This is why I highly suggest considering the current situation a lot better. Do not lose hope that quickly just because it didn't go the way you hoped it would, this is the market we are in and sometimes crashes happen. Luna deal will be blown over soon and the market will get back to where it was (luna won't). Just calm down, hold, and wait for the bull market to come back which always does and will come back again in the near future.

While we know that a recovery will happen at some point in the future, the problem for a great deal of people is how long this will take? Which unfortunately it is something that we do not know, meaning that if the recovery takes too long I will not be surprised if many people begin to sell their coins as they find other assets from which to make money or they simply leave this market while disappointed about what happened, delaying the recovery even further and forcing us to go through another crypto winter.

People are taking a great deal now that the market is on the 7th straight week at red candle (and it's a record if I'm not mistaken). So we should learn to accept this so that we will not be disappointed.

And yeah, this is the sign of a crypto winter and the recovery might take some time, what I mean is that we might see another dip in the next 4 months.

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Quote from: sana54210 on May 14, 2022, 04:48:15 PM

Quote from: cryptomaniac_xxx on May 13, 2022, 08:14:04 AM

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again. And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

I do not believe that anything that big will happen because of this situation. Sure, 20k could happen but then it will go back up, there are too many walls to break to get there as well, I mean billions of dollars.

This is why I highly suggest considering the current situation a lot better. Do not lose hope that quickly just because it didn't go the way you hoped it would, this is the market we are in and sometimes crashes happen. Luna deal will be blown over soon and the market will get back to where it was (luna won't). Just calm down, hold, and wait for the bull market to come back which always does and will come back again in the near future.

While we know that a recovery will happen at some point in the future, the problem for a great deal of people is how long this will take? Which unfortunately it is something that we do not know, meaning that if the recovery takes too long I will not be surprised if many people begin to sell their coins as they find other assets from which to make money or they simply leave this market while disappointed about what happened, delaying the recovery even further and forcing us to go through another crypto winter.

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Quote from: buwaytress on May 13, 2022, 12:28:12 PM

Quote from: cryptomaniac_xxx on May 13, 2022, 08:14:04 AM

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again. And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

We don't really know anything, but that feels to me the more likely scenario than a recovery even to 40k, for the time being, anyway. Back below 30k on a weak rebound, I wouldn't say the pressure's over until we spend a few days at least above 30k. Weekend will be crucial to determine the outlook for the rest of the month but I wouldn't place my bets just yet.

We did manage to go above $30k several times, but it was not enough to break the bearish momentum, 4 hrs ago, the price is above $30k again, but suddenly it's $29,1xxx. So not sure what happen in between, or it is just the US market opens and then speculators started to sell again causing that sudden dip. And we are going to enter the weekends again wherein the trade volume is weak.

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Quote from: cryptomaniac_xxx on May 13, 2022, 08:14:04 AM

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again. And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

I do not believe that anything that big will happen because of this situation. Sure, 20k could happen but then it will go back up, there are too many walls to break to get there as well, I mean billions of dollars.

This is why I highly suggest considering the current situation a lot better. Do not lose hope that quickly just because it didn't go the way you hoped it would, this is the market we are in and sometimes crashes happen. Luna deal will be blown over soon and the market will get back to where it was (luna won't). Just calm down, hold, and wait for the bull market to come back which always does and will come back again in the near future.

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Quote from: lornadane on May 12, 2022, 08:03:07 PM

Quote from: GreatArkansas on May 12, 2022, 09:26:52 PM

One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

How is it possible never to go there just looking at the charts and the current market situation is just awful.
I don't even want to look at the current bitcoin markets.
A few months ago when the war broke out, the price of bitcoin didn't fall this deep, but look at what's going on behind all of this now.

It has been a difficult week for all of those that are heavily invested in this market, however this crash is mostly caused by the problems that luna is suffering, after all it lost almost 100% of its value in just a few days and while some think that it may recover who in his right mind will ever invest any significant amount of money in luna after what happened? The only ones that are buying luna are those that think that it could recover and want to become rich quickly, everyone else are simply not interested in buying luna at the moment.

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Exactly! $20,000 now is the major support for me, especially this time, that's why I am not really expecting that Bitcoin could fall below that because for sure, there are already lot of buy orders lining up around that level and for sure this dump is just a temporary especially it's not only the Bitcoin market affected, it's global and other markets too.

I am not too sure what to take of this situation. If the institutional institution started selling the market would have gone down much further but the buy order started coming in when it touched around $27k. Even i do think that in the worst of situations we might even go below $20k but the alt market had a much bigger correction in the past few days.

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Quote from: cryptomaniac_xxx on May 13, 2022, 08:14:04 AM

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again. And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

We don't really know anything, but that feels to me the more likely scenario than a recovery even to 40k, for the time being, anyway. Back below 30k on a weak rebound, I wouldn't say the pressure's over until we spend a few days at least above 30k. Weekend will be crucial to determine the outlook for the rest of the month but I wouldn't place my bets just yet.

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Quote from: GreatArkansas on May 12, 2022, 09:26:52 PM

One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

Exactly! $20,000 now is the major support for me, especially this time, that's why I am not really expecting that Bitcoin could fall below that because for sure, there are already lot of buy orders lining up around that level and for sure this dump is just a temporary especially it's not only the Bitcoin market affected, it's global and other markets too.

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again. And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

GreatArkansas

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One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

Exactly! $20,000 now is the major support for me, especially this time, that's why I am not really expecting that Bitcoin could fall below that because for sure, there are already lot of buy orders lining up around that level and for sure this dump is just a temporary especially it's not only the Bitcoin market affected, it's global and other markets too.

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One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

How is it possible never to go there just looking at the charts and the current market situation is just awful.
I don't even want to look at the current bitcoin markets.
A few months ago when the war broke out, the price of bitcoin didn't fall this deep, but look at what's going on behind all of this now.

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Quote from: hatshepsut93 on May 07, 2022, 06:57:47 PM

One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

That is without a doubt worrying but it could be a trap, after all big players do not move in the exact same way, so while some are trying to push the price to go down there are others that are doing the opposite, any price below the 30k level is extremely attractive as it is less than half the ATH that we have reached during the previous bull run, so with this in mind this could be an attempt to try to lure the bears into dropping the price only to get a better price for themselves once they buy even more bitcoin.

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Yes, it's likely we're only in the middle of a long bear market, the ATH wasn't actually long ago, and it's still 2 years till next halvening. So you shouldn't be surprised if the price drops further, just don't panic sell and keep hodling. The good time to sell is in bull market, not in bear market, because you never know when bear market reverses, it can happen suddenly and you might have to rebuy at a higher price and lose some coins in the process.

Bitcoin can dip more than we can expect, but it should not be a surprise as to what has happened in the past, like in 2017, bitcoin got to ATH of $20000, it deceased back in 2019 and 2020 below $3900. That was a huge correction. Bitcoin ATH in last year was almost $70000, it has retraced back to $34000. If compared to the last time, there should be more correction, maybe down to $25000.

The worst time to sell is during bear time and the worse time to buy is when the bull market is getting finally over. You are right about that. I believe some people would be panic and sell this time, but the worst decision to make because the price will rise back, though it can be long term.

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One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

hatshepsut93

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Yes, it's likely we're only in the middle of a long bear market, the ATH wasn't actually long ago, and it's still 2 years till next halvening. So you shouldn't be surprised if the price drops further, just don't panic sell and keep hodling. The good time to sell is in bull market, not in bear market, because you never know when bear market reverses, it can happen suddenly and you might have to rebuy at a higher price and lose some coins in the process.

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Quote from: fortuner on May 06, 2022, 11:38:17 PM

Quote from: Kemarit on May 06, 2022, 11:00:24 PM

Most people I know personally all have gotten out of crypto and stocks. They all sold because they want to rebuy lower for half. They are also pretty convinced that there will be a recession soon. Everywhere you go people are talking about a recession.

Right, probably it's because of what is happening around us, the war, inflation and other geo politics that is affecting every market.

One thing I learnt about the markets is that if the retail market all thinks one thing, then most likely it won’t happen. So who knows when the bottom will be. There is a good chance that maybe it already bottomed out since people are so bearish now.

You can't blame retail though, I mean they are the bulk of the market, so they almost think very positive although we all seen this from previous history. We are in the bear market and most likely the price will still go down, maybe as low as the previous all time high (2017), around $20,000.

Even though the market is currently declining, I'm not sure if bitcoin will fall that low because judging from the current price range it's still very far from that.
Because every year there must be a correction in the bitcoin market price and to return to last year's market price it is really impossible.

At least it's better to prepare ourselves with that kind of worst situation.

Speaking of 2017 or early 2018, there are members screaming that bitcoin won't go down to $10k after reaching as high as $20k in its bull run. But guess? start of 2018 we enter a bear market and the price goes down hard. So lessons learned that time is that everything is possible, just like 6 digit price seems likely in the future, a $20k plunge with all the geo-political affecting all markets, we should be ready.

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Most people I know personally all have gotten out of crypto and stocks. They all sold because they want to rebuy lower for half. They are also pretty convinced that there will be a recession soon. Everywhere you go people are talking about a recession.

One thing I learnt about the markets is that if the retail market all thinks one thing, then most likely it won’t happen. So who knows when the bottom will be. There is a good chance that maybe it already bottomed out since people are so bearish now.

At least they have a plan, however I think that when it comes to bitcoin it is a risky one, while I think that in the case the economic crisis aggravates even further the price of bitcoin will go down as well, after some time then the price will begin to recover and we will begin to see a massive growth, similar to what we saw at the beginning stages of the pandemic, this means that the people that you know will have to get their bitcoin during a very short period of time when the price is going down, and that is not something easy to do at all.

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I still believe that this is just another lower high in the bearish market trend.

That's what it's going to be. Every year, we're going to see a new high for a low price of bitcoin. And if people don't look at that, they're going to be disappointed just because they look at the daily prices.
But in all reality, this is showing that bitcoin is doing good and even if it drops lower this time. We can compare the past years low prices and it will be an impressive chart for sure.

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Quote from: fortuner on May 06, 2022, 11:38:17 PM

Most people I know personally all have gotten out of crypto and stocks. They all sold because they want to rebuy lower for half. They are also pretty convinced that there will be a recession soon. Everywhere you go people are talking about a recession.

One thing I learnt about the markets is that if the retail market all thinks one thing, then most likely it won’t happen. So who knows when the bottom will be. There is a good chance that maybe it already bottomed out since people are so bearish now.

This is where this well known statistic comes to play, which states that (depending on a source) 80-95% of traders lose money on the market. If retail was always right we'd simply have too many millionaires, yet most people struggle to make ends meet. It takes time for people to get smart. I know a guy who borrowed money to invest in bitcoin in 2013 and lost it all by selling at the bottom. Then he got out and missed 2017 completely, working his ass off to repay the debt, but once he saved up some money he bought again and is a hodler now. The market is down But I don't think he's going to sell until he's at least 5x on his investment. You grow into this state of mind and that's why smart money is buying now and retail is out, because retail is 99% like my friend in 2013 - waiting for youtubers and line drawers to tell them what to do.

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Even though the market is currently declining, I'm not sure if bitcoin will fall that low because judging from the current price range it's still very far from that.
Because every year there must be a correction in the bitcoin market price and to return to last year's market price it is really impossible.

The market could be going down deeper than now as the trend is showing the line is going down again.
But that could all change if there was support for bitcoin coming into the market and the price could move and return to highs.
Not only every year but maybe every month there will be a correction but we don't know when the lowest correction will come.
And this year we see the correction coming too deep and don't know when the price will bounce back.

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Quote from: Kemarit on May 06, 2022, 11:00:24 PM

Most people I know personally all have gotten out of crypto and stocks. They all sold because they want to rebuy lower for half. They are also pretty convinced that there will be a recession soon. Everywhere you go people are talking about a recession.

Right, probably it's because of what is happening around us, the war, inflation and other geo politics that is affecting every market.

One thing I learnt about the markets is that if the retail market all thinks one thing, then most likely it won’t happen. So who knows when the bottom will be. There is a good chance that maybe it already bottomed out since people are so bearish now.

You can't blame retail though, I mean they are the bulk of the market, so they almost think very positive although we all seen this from previous history. We are in the bear market and most likely the price will still go down, maybe as low as the previous all time high (2017), around $20,000.

Even though the market is currently declining, I'm not sure if bitcoin will fall that low because judging from the current price range it's still very far from that.
Because every year there must be a correction in the bitcoin market price and to return to last year's market price it is really impossible.

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Most people I know personally all have gotten out of crypto and stocks. They all sold because they want to rebuy lower for half. They are also pretty convinced that there will be a recession soon. Everywhere you go people are talking about a recession.

Right, probably it's because of what is happening around us, the war, inflation and other geo politics that is affecting every market.

One thing I learnt about the markets is that if the retail market all thinks one thing, then most likely it won’t happen. So who knows when the bottom will be. There is a good chance that maybe it already bottomed out since people are so bearish now.

You can't blame retail though, I mean they are the bulk of the market, so they almost think very positive although we all seen this from previous history. We are in the bear market and most likely the price will still go down, maybe as low as the previous all time high (2017), around $20,000.

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Most people I know personally all have gotten out of crypto and stocks. They all sold because they want to rebuy lower for half. They are also pretty convinced that there will be a recession soon. Everywhere you go people are talking about a recession.

One thing I learnt about the markets is that if the retail market all thinks one thing, then most likely it won’t happen. So who knows when the bottom will be. There is a good chance that maybe it already bottomed out since people are so bearish now.

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Quote from: Dhaniii on May 06, 2022, 06:46:38 PM

Based on the key factors minimizing inflation and the incoming payrolls might affect the demand for Bitcoin in the market. But points given, I still believe that this is just another lower high in the bearish market trend.

there is no way that we can hinder this incoming fall as it was already starting to happen , the April effect is taking place now and no wonder how low we can see in this process.
but let us not add to the problem if we are not being in need of funds then let our currencies stays in wallets so we may help in small way preventing the continues dropping.
this is how we can contribute if we are not a Big investors.

lornadane

full member

Activity: 529

Merit: 101

we like to jump, sometimes fall and sometimes fly, so corrections are still reasonable for those of us who trade short term. This correction is our chance to buy and our chance to sell when bitcoin repeats itself at a price above $40k like yesterday. once a month price correction often occurs until it reaches the price of $ 35k and another increase above $ 40k is not the best opportunity at this time.

Yes of course this is a good opportunity for those of us who want to benefit in the short term.
Count on looking for gaps in opportunities like this.
Maybe in a few days the bitcoin price will start to normal again like last week's price was around $40 thousand so take this opportunity to buy as much as possible when the price is down at $34 or $35 thousand at this time.

Dhaniii

full member

Activity: 728

Merit: 100

https://i.imgur.com/hgxNNiA.png

we like to jump, sometimes fall and sometimes fly, so corrections are still reasonable for those of us who trade short term. This correction is our chance to buy and our chance to sell when bitcoin repeats itself at a price above $40k like yesterday. once a month price correction often occurs until it reaches the price of $ 35k and another increase above $ 40k is not the best opportunity at this time.

Hypnosis00

sr. member

Activity: 2436

Merit: 343

It is only just our mind thinking that the market is not facing the bearish side but the reality is that we are already there. In fact, if we tried to analyze the trend, it is literally showing that we are in the bearish line, not just a normal correction.

I don't think this is hard to accept. We have had this situation so many times as whether we like it or not, this gonna happen. What we just hoping is that this won't be like 2018 which takes almost 3 years to recover.

coolcoinz

legendary

Activity: 2814

Merit: 1192

I love how people draw lines trying to predict what comes next and they always fail. Like, how can you draw a line a d call it bullish when we supposedly are in a bear market since January? Unless you thought that we were in a correction in a bull market, just like in Summer of 2021, but then it still doesn't make sense because you claim that we broke a bullish trend line, but we are still at a higher low compared to 30k in July, so we should still be in a bull market Cheesy

Somehow when we went to 30k last year, everybody said that the bubble has popped and we're in a bear market now and it's going to continue for a year. Then we went to 70k and line drawers were obviously shocked. Then we went to 32k in January and line drawers said that it's officially over now and we're going into a bear market, but then we went to 48k and line drawers on Coindesk and such were euphoric - lines broken! 100k incoming! And now we're back at 35k...

ajochems

hero member

Activity: 1305

Merit: 511

The cryptocurrency was different from the stock market for the sure.You should learn this one.In stock market,mostly this will be changed at any cost.The pattern of the chart wasn’t change in the stock market.But it’s wrong to expect the same on different investment platform.And the pump and dump was huge in the cryptocurrency.But in stock you get assured profit of the 5 percentage.

Husires

legendary

Activity: 1596

Merit: 1288

Your words would be logical if there is a link between the stock market and cryptourrencies, but this link cannot be proven, and therefore we will return to the levels of support and resistance, which give better results.

Support and resistance levels are still at their lowest level, and therefore it is unlikely that we will see a drop below 32k.
As for the reason for the correction, which is that the price tried to break the previous top at 46k several times and did not succeed in breaking it so we must down to 32 levels.

Oshosondy

legendary

Activity: 1624

Merit: 1200

Gamble responsibly

I am always tired of all these news, I am a trader and my trading is based on corrections and bull market. Recently, bitcoin price has falled, I will look for overbought market and buy and if I gain I will sell and repeat the process, this is most likely what will happen, but if I enter into bear trap, I will turn it to swing trading because I know that the price of bitcoin will still increase and make profit as I long the trading position.