Bitcoin is getting more bearish, what is the trigger? - page 7.

sana54210

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In the current bearish bitcoin price condition, we should be able to wait until a reversal point appears. Well, that's when you start buying again. However, even though the bitcoin price is currently falling, it doesn't mean it's a wise move if we put all our money to invest there.

Why though? I mean what makes you doubt yourself when it comes to this subject? If we know that bitcoin will have a reversal and we are going to end up making a profit, then why not trust that it would make a good profit in the end? I personally believe that it would be silly not to invest into bitcoin just as it is down right now.

If you wait for it to go up it is already going up a bit, we have seen lower than 48k but seen above 48k after the crash, which is not a lot I know, we were over 65k just a month ago so I understand the hesitation. However, the hesitation should come from people who do not think bitcoin could recover or not, if you are aware that it will recover and be better, then why are you doubting buying bitcoin now?

bots1

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Quote from: Chato1977 on December 04, 2021, 06:53:19 AM

Quote from: bots1 on December 04, 2021, 03:48:47 AM

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

its sad that when i wake up this morning , a Bad scenario takes my eyes and that is the very Bearish market like now.

I did not manage to take profit and now will force myself to Keep long term holding as the Bear trap seemingly taking place.

Be careful to everyone , looks like Whales are playing the cards again.

I was also surprised when the price of Bitcoin suddenly plunged to $47k yesterday. I even lost when BTC fell. Because other altcoins are also falling, including the coins I hold. Therefore, conditions like this force us to endure while waiting for the bitcoin price to rebound in order to take profit.

Chato1977

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I don't care if this triggered by anything , Bitcoin will return to what the momentum recently .

Buy bitcoin guys this is our chance to take more Bitcoin.

Buy and Hold.

Let's take this opportunity guys , Please ..

michellee

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Quote from: bots1 on December 04, 2021, 03:48:47 AM

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

Indeed. Only carefully can we know when we can start buying bitcoin or wait for more to see the chance. Or, if you have skills, you can try with hit and run strategy and not chase the big profit because the situation does not come to you.

This situation is good to buy and hold temporary and that is why we do not buy bitcoin in a big amount to prevent another downtrend. If the price is still going down, you can use more money to buy bitcoin to accumulate bitcoin at many low prices, which you can sell when the price starts to increase. I think that will be good for you as you can take profit from the lowest price by selling at a high price and so on.

adaseb

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Last night was a number of factors. One being that many people kept opening up leveraged positions in the $50K areas, and it led to a cascading dominos type of liquidation deal.

Another was that it was extreme thin liquidity being on early Saturday. How often are there big moves during that time? Almost never.

Third was probably some stock market traders took huge losses earlier in the week and closed their crypto positions also to stop the bleed.

Kemarit

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Quote from: STT on December 04, 2021, 06:57:21 PM

Just momentum and reversal of speculation is enough to do this, nothing much but people forgot we can roll backwards as well as forwards. There are some clues in the wider market like dollar strength and general market risk off but its only slight and caused a larger move in a speculative asset such as Bitcoin.

Yeah, the very definition of how volatile bitcoin market is, and how it is affected by what is going around globally regardless of what event it is, i.e. covid-19 new variant, or Fed news.

Right now though, we have a good bounce, going to $49,000 after a precarious $47,000 and keeps on counting. At least now the bleeding has stop, but we shall see if the can get back to $50,000 at least and have a good momentum Monday.

STT

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Just momentum and reversal of speculation is enough to do this, nothing much but people forgot we can roll backwards as well as forwards. There are some clues in the wider market like dollar strength and general market risk off but its only slight and caused a larger move in a speculative asset such as Bitcoin.

uneng

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Quote from: stomachgrowls on December 04, 2021, 09:40:05 AM

Aside from technical analysis then it isnt really bad to consider fundamentals too.
Whats the trigger? For sure this one.
$300 Billion Bitcoin And Crypto Price Crash After Stark Fed Warning—Ethereum, BNB, Solana, Cardano And XRP In Free Fall
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I do really expect something like this that anytime could happen on which this market is really highly reactive to news or fundamentals
which it could really fucked up those TA's.

So, Federal Reserve stops or decreases the stimulus they were offering by buying bonds to increase market liquidity during the pandemic, and instead of doing that, they can use the money now to raise the basic interest rates in the country, what makes fiat fixed income investments more profitable and interesting in the USA, incentivizing investors to cashout their funds from crypto market and inject it in the american traditional economy.

Not only crypto market loses, but many other emerging countries' markets can also lose this way. Well, I just hope it's a temporary movement from investors and as soon as they see how fiat economy is messed up, the increasement in interest rates may not look so bright to their eyes anymore. So bitcoin will be still an alternative to that, like it has been during the whole pandemic.

freedomgo

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Quote from: ultrloa on December 04, 2021, 06:01:34 PM

Quote from: Silberman on December 04, 2021, 04:25:18 PM

Quote from: bots1 on December 04, 2021, 03:48:47 AM

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

I think that what we are seeing is the result of the new strain of the virus that has been found at South Africa, people are very nervous about it as we do not know what will be the potential of this new strain that many think is the most dangerous to date, so the markets are going down as a result of this, and since now bitcoin has institutional investors which are also invested in the stock market then we see some correlation forming between bitcoin and the stock markets, causing bitcoin to go down in value for the time being.

Some think about that and that cause trouble for some people here but in my opinion that scattering of new strain is just temporary only but unfortunately it triggers the bear market condition that's why people need to be careful and if they cannot take the current danger what brought by the bearish market I think its good for them to relax and convert on a stable coin for a while.

I guess it will be better if we will still observe the market how far its price will go than take the risk and trade which losing is very possible this time. I also see this new covid variant may trigger the current correction and might continue into a bearish season once bitcoin will not recover. If this is the case, then we should not miss the opportunity these days to buy cheaper but potential coins as we are not really sure if the market will recover this year, or maybe by next year. But no worries for long term holders as we always have long stretch of patience to keep waiting for the right timing to sell.

ultrloa

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Quote from: Silberman on December 04, 2021, 04:25:18 PM

Quote from: bots1 on December 04, 2021, 03:48:47 AM

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

I think that what we are seeing is the result of the new strain of the virus that has been found at South Africa, people are very nervous about it as we do not know what will be the potential of this new strain that many think is the most dangerous to date, so the markets are going down as a result of this, and since now bitcoin has institutional investors which are also invested in the stock market then we see some correlation forming between bitcoin and the stock markets, causing bitcoin to go down in value for the time being.

Some think about that and that cause trouble for some people here but in my opinion that scattering of new strain is just temporary only but unfortunately it triggers the bear market condition that's why people need to be careful and if they cannot take the current danger what brought by the bearish market I think its good for them to relax and convert on a stable coin for a while.

24Kt

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Quote from: sunsilk on December 04, 2021, 05:53:01 PM

You're showing a pattern that's favorable to the eyes of the bears and there would surely be supporting analysis that says, we're about to enter in a bear market.

But I don't think we're going there straightly. It's always that after every dip, there's a recovery period and let's see how much it will recover after dipping. Yes, $40k is still possible and let's see if there's some news that will pull it down for more.

One can always make charts according to their prediction, and formulate trends according to what they feel will happen. But most of the time, those trends don't correspond to actual happenings. So this is interesting, if the movement drawn by the OP will happen or not? So will bookmark this thread and will visit again once this year is over. And hopefully, the OP will update what indeed happen to the market and compare it to his chart.

sunsilk

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You're showing a pattern that's favorable to the eyes of the bears and there would surely be supporting analysis that says, we're about to enter in a bear market.

But I don't think we're going there straightly. It's always that after every dip, there's a recovery period and let's see how much it will recover after dipping. Yes, $40k is still possible and let's see if there's some news that will pull it down for more.

Silberman

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Quote from: bots1 on December 04, 2021, 03:48:47 AM

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

I think that what we are seeing is the result of the new strain of the virus that has been found at South Africa, people are very nervous about it as we do not know what will be the potential of this new strain that many think is the most dangerous to date, so the markets are going down as a result of this, and since now bitcoin has institutional investors which are also invested in the stock market then we see some correlation forming between bitcoin and the stock markets, causing bitcoin to go down in value for the time being.

justdimin

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Quote from: Chato1977 on December 04, 2021, 06:53:19 AM

its sad that when i wake up this morning , a Bad scenario takes my eyes and that is the very Bearish market like now.

I did not manage to take profit and now will force myself to Keep long term holding as the Bear trap seemingly taking place.

Be careful to everyone , looks like Whales are playing the cards again.

It does look like whales are trying their hardest to break the futures by the looks of it. Ever since we moved over 40k, the long futures have been collecting to become huge, and they just broke most of that overnight, now shorts are looking a lot bigger thanks to this, and with a huge increase they will profit from that as well.

This doesn't mean that they will do it right away, maybe it will take time but waiting instead of panic selling seems like a good idea right now. I believe that we should not be selling right now, it is obvious that bitcoin is volatile and that volatility means every drop will have a recovery and we will profit from this as well. We just need to wait until that happens.

The Cryptovator

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First of all, I don't believe this kind of chart where people could draw anything. This pullback was expected for me as I discussed in a few threads. But to be honest this much pullback wasn't expected and it's quite surprising for all of us I think. I thought Bitcoin would play around the $50K zone and perhaps we can short it that zone. When I saw the chart today, I become speechless. I didn't fear to take entry though I know it would recover quickly.

Still, I am wondering what was the exact reason behind this dump. I hadn't found any strong reason or news sources. I am assuming this was a whales game to accumulate at a lower price. So that they could make billions from here.

The Sceptical Chymist

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Quote from: Poker Player on December 04, 2021, 04:14:50 AM

https://bitcointalk.org/index.php?topic=5375333.msg58608133;boardseen#new

people mention a supposed ban on personal wallets but I can't find any recent news about it.

That's interesting--I hadn't read anything about that before, but as you said the article is from July, so I doubt that's responsible for the massive drop we've seen in the past 24 hours. Maybe there's some info about that or something else that hasn't hit the press yet but got leaked to some whales....that's the only thing I can think of aside from this just being a general selloff.

And yikes, what a selloff this has been so far. I've certainly seen bitcoin do some crazy things, but it's been a while since it's been down $10k within a matter of days. Usually I don't worry about what's causing price swings like this, but I am curious about this one because there's been no bullish or bearish news besides the COVID stuff.

eaLiTy

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Quote from: bots1 on December 04, 2021, 03:48:47 AM

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

I am a bit surprised that we had a major correction at the beginning of the month and it is really interesting how the market would perform in the next few days, will we see a recovery or we will see further correction because the major reason for the correction is institutional investors booking their profit and i saw that coming but not this early and how they are going to continue is a puzzling question for me and if they keep on selling we might go below $40k as well.

yhiaali3

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The strongest resistance for the current downside wave was at 42k$, and indeed bitcoin rebounded from that point. If bitcoin had managed to break through the 42k$ resistance, we would have seen bloody massacres of cryptocurrencies in the entire market, but thankfully there is some hope of watching the rise again after a rebound Bitcoin to the 48k$ point at the moment, we hope that bitcoin can go back to the 54k point for the market to bounce back.

Oshosondy

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Quote from: Poker Player on December 04, 2021, 04:14:50 AM

So, I don't know what the **** is going on.

Just the end of bull run for now, the market price can not keep going higher without any bear phase, some people still want to invest in bitcoin, there will be a chance to invest if the price fall to certain price, they will invest and the price of bitcoin will increase back and continue to remain volatile but increasing than the last low price. There is nothing about making US citizens to register personal wallet, we all know that is not going to work.

Obito

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This is a big opportunity for those that have the money to buy right now, now that a lot of alt coins and bitcoin is going down, I think that it's a good time to start buying right now especially with a possibility of pump in the next year or even this month, you don't want to miss out. As for me, I have everything in place, just need to get more money to buy more bitcoins.

Topic: Bitcoin is getting more bearish, what is the trigger? - page 7. (Read 1066 times)